Paper Money - Vol. XXXII, No. 1 - Whole No. 163 - January - February 1993

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HANK BIECIUK More collectors depend on Krause's paper money references. STANDARD CATALOG OF U.S. PAPER MONEY By Chester Krause and Robert Lemke 10th edition, 208 pages. Choose and compare from more than 175 years of U.S. paper money in 5,000 currency items, punctuated by over 550 original photographs. Totally revised valuations give current market data in the three common preservation grades $21.95 EARLY PAPER MONEY OF AMERICA By Eric P. Newman 3rd edition, 480 pages. An illustrated, historical, and descriptive compilation of data relating to American paper currency from its inception in 1686 to the year 1880. Liberally illustrated with both black & white and color photos $49.95 STANDARD CATALOG OF NATIONAL BANK NOTES By Dean Oaks and John Hickman 2nd edition, 1,216 pages. Provides a comprehensive study of all known National Bank Notes issued between 1863 and 1935. More than 117,000 notes are listed in this thorough study $95.00 STANDARD CATALOG OF DEPRESSION SCRIP OF THE UNITED STATES By Ralph Mitchell and Neil Shafer 1st edition, 320 pages. Over 3,570 issues are carefully described and attributed. Market values are given for grades you are likely to encounter. Over 2,025 photos, complete with accompanying descriptions of size, color and signatories $27.50 STANDARD CATALOG OF WORLD PAPER MONEY Volume II, General Issues, By Albert Pick 6th edition, 1,136 pages. Today's most complete accurate reference for nationally circulated legal tender issues from around the globe. Coverage encompasses the 18th through 20th centuries. More than 21,000 notes are listed, over 9,600 illustrations $49.00 STANDARD CATALOG OF WORLD PAPER MONEY Volume I, Specialized Issues By Albert Pick Edited by Colin Bruce II and Neil Shafer 6th edition, 1,008 pages Larger than ever, this volume covers 250 years of state, provincial, commercial, revolutionary and other limited circulation currency issues from 365 note issuing authorities. 16,700 notes are listed, with 7,660 original photos, many improved. The latest valuations include items previously listed, but now priced for the first time! $55.00 STANDARD CATALOG OF U.S. OBSOLETE BANK NOTES By James Haxby 1782-1866 1st edition 2,784 pages. The ultimate encyclopedia of U.S. obsolete bank notes. More than 15,000 photos, many appearing for the first time anywhere. Prices are listed in up to three grades of preservation. $195.00 per four-volume set. CONFEDERATE STATES PAPER MONEY By Arlie R. Slabaugh 7th edition 112 pages, 6"x9" A new edition of this popular catalog on Confederate States paper money has been totally updated and revised for the first time in nearly 15 years. Features more than 100 illustrations, plus new data on advertising notes, errors, facsimile, bogus and enigmatical issues $9.95 Please print clearly Your name Address City/State/Zip Phone: ( Is your order complete? q Double check item numbers, quantities and totals q Is your address and phone number correct? q Is check enclosed OR credit card information complete? Mon.-Fri. 6:30 a.m. to 8 p.m. CST Saturday 8:00 a.m. to 2:00 p.m. Mail to: General business phone Krause Publications 715-445-2214 700 E. State St. Mon.-Fri. 8:00 a.m. to 5:00 p.m. Iola, WI 54990-0001 Credit Card Buyers please complete the following: ) MasterCard ( ) VISA Account Number Expiration Date: Mo Signature Qty. Code Title Price Total CS Confederate States Paper Money $9.95 EP Early Paper Money of America, 3rd Ed. 49.95 DS Standard Catalog of Depression Scrip of the U.S. 27.50 NB Standard Catalog of National Bank Notes, 2nd Ed. 95.00 BB Standard Catalog of Obsolete Bank Notes 195.00 SP Standard Catalog of U.S. Paper Money, 10th Ed. 21.95 PM Standard Catalog of World Paper Money, Gen. 6th Ed. 49.00 PS Standard Catalog of World Paper Money, Spec., 6th Ed. 55.00 Subtotal Shipping and Handling* Total Enclosed SAVE TIME Credit card orders call toll-free 1-800-258-0929 Dept. ZGB Yr. Please add $2.50 for postage and handling for the first title and $1.50 for each additional title Addresses outside the U.S. add $5.00 per title ordered for postage and handling. ZGB SOCIETY OF RAPER IONEY COLLECTORS INC. Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. XXXII No. 1 Whole No. 163 JAN/FEB 1993 ISSN 0031-1162 GENE HESSLER, Editor P.O. Box 8147 St. Louis, MO 63156 Manuscripts, not under consideration elsewhere, and publications for review should be addressed to the Editor. Opinions expressed by the authors are their own and do not necessarily reflect those of the SPMC or its staff. PAPER MONEY reserves the right to reject any copy. Manuscripts that are accepted will be published as soon as possible. However, publication in a specific issue cannot be guaranteed. IN THIS ISSUE SECRETARY OF THE TREASURY AND (LATER) CHIEF JUSTICE OF THE U.S. FRED M. VINSON lack H. Fisher 3 COUNTERFEITS OF THE CONFEDERATE "INDIAN FAMILY" NOTE Brent Hughes 6 THE PAPER COLUMN MATCHED SERIES DATES AND CHARTER NUMBERS ON NATIONAL BANK NOTES Peter Fluntoon 10 JACOB OTT, CHAMPION PRINTER OF COUNTERFEIT CURRENCY Brent Hughes 12 THE UNWELCOME GUESTS Bob Cochran 14 THE BANKER'S WORLD FAIR NATIONAL BANK OF ST. LOUIS Dave Grant 18 PETE, McCARTNEY, COUNTERFEITER, Part I Thomas F Eagan 22 A (SAW) BUCK IS A (SAW) BUCK Bob Cochran 29 SOCIETY FEATURES NOTED & PASSED 30 CALL FOR NOMINATIONS 21 IN MEMORIAM: HANK BIECIUK 30 NEW LITERATURE 30 PROOFS AVAILABLE FROM STUDY GROUP 31 MEET YOUR CHARTER NUMBERS 31 NEW MEMBERS 32 MONEY MART 32 ON THE COVER: Hank Bieciuk, charter member 1. See p. 30. Inquiries concerning non -delivery of PAPER MONEY should be sent to the secre tary; for additional copies and back issues contact book coordinator. Addresses are on the next page. Paper Money Whole No. 163 Page 1 PAPER MONEY is published every other month beginning in January by The Society of Paper Money Collectors. Second class postage paid at Dover, DE 19901. Postmaster send address changes to: Bob Cochran, Secretary, P.O. Box 1085, Floris- sant, MO 63031. © Society of Paper Money Collectors, Inc., 1993. All rights reserved. Reproduction of any article, in whole or in part, without ex- press written permission, is prohibited. Individual copies of PAPER MONEY are available from the Book Sales Coordinator for $2.75 each plus $1 postage. Five or more copies are sent postage free. ADVERTISING RATES SPACE Outside 1 TIME 3 TIMES 6 TIMES Back Cover $152 $420 $825 Inside Front & Back Cover $145 $405 $798 Full Page $140 $395 $775 Half-page $75 $200 $390 Quarter-page $38 $105 $198 Eighth-page $20 $55 $105 To keep rates at a minimum, advertising must be prepaid in advance according to the above schedule. In exceptional cases where special art- work or extra typing are required, the advertiser will be notified and billed extra for them ac- cordingly. Rates are not commissionable. Proofs are not supplied. Deadline: Copy must be in the editorial office no later than the 1st of the month preceding issue (e.g., Feb. 1 for March/April issue). With advance notice, camera-ready copy will be ac- cepted up to three weeks later. Mechanical Requirements: Full page 42-57 picas; half-page may be either vertical or horizontal in format. Single column width, 20 picas. Halftones acceptable, but not mats or stereos. Page position may be requested but cannot be guaranteed. Advertising copy shall be restricted to paper cur- rency and allied numismatic material and publi- cations and accessories related thereto. SPMC does not guarantee advertisements but accepts copy in good faith, reserving the right to reject objectionable material or edit any copy. SPMC assumes no financial responsibility for typographical errors in advertisements, but agrees to reprint that portion of an advertise- ment in which typographical error should occur upon prompt notification of such error. \pillowAll advertising copy and correspondenceshould be sent to the Editor. SOCIETY OF PAPER MONEY COLLECTORS OFFICERS PRESIDENT AUSTIN M. SHEHEEN Jr., P.O. Box 428, Camden, SC 29020 VICE-PRESIDENT JUDITH MURPHY, P.O. Box 24056, Winston Salem, NC 27114 SECRETARY ROBERT COCHRAN, P.O. Box 1085, Florissant, MO 63031 TREASURER DEAN OAKES, Drawer 1456, Iowa City, IA 52240 APPOINTEES EDITOR GENE HESSLER, P.O. Box 8147, St. Louis, MO 63156 MEMBERSHIP DIRECTOR RON HORSTMAN, Box 2999, Leslie, MO 63056 BOOK SALES COORDINATOR RICHARD J. BALBATON, P.O.Box 911, N. Attleboro, MA 02761-0911 WISMER BOOK PROJECT Chairman to be appointed LEGAL COUNSEL ROBERT J. GALIETTE, 10 Wilcox Lane, Avon, CT 06001 LIBRARIAN WALTER FORTNER, P.O. Box 152, Terre Haute, IN 47808-0152 For information about borrowing books, write to the Librarian. PAST-PRESIDENT RICHARD J. BALBATON, P.O. Box 911, N. Attleboro, MA 02761-0911 BOARD OF GOVERNORS DR. NELSON PAGE ASPEN, 420 Owen Road, West Chester, PA 19380 CHARLES COLVER, 611 N. Banna Avenue, Covina, CA 91724 MICHAEL CRABS, Jr., P.O. Box 17871, Memphis, TN 38187-0871 C. JOHN FERRERI, P.O. Box 33, Storrs, CT 06268 MILTON R. FRIEDBERG, Suite 203, 30799 Pinetree Rd., Cleve- land, 011 44124 GENE HESSLER, P.O. Box 8147, St. Louis, MO 63156 RON HORSTMAN, Box 2999, Leslie, MO 63056 ROBERT R. MOON, P.O. Box 81, Kinderhook, NY 12106 WILLIAM F. MROSS, P.O. Box 21, Racine, WI 53401 DEAN OAKES, Drawer 1456, Iowa City, IA 52240 BOB RABY, 2597 Avery Avenue, Memphis, TN 38112 STEPHEN TAYLOR, 70 West View Avenue, Dover, DE 19901 FRANK TRASK, P.O. Box 99, East Vassalboro, ME 04935 WENDELL W. WOLKA, P.O. Box 262, Pewaukee, WI 53072 The Society of Paper Money Collectors was organized in 1961 and incorporated in 1964 as a non-profit organiza- tion under the laws of the District of Columbia. It is affiliated with the American Numismatic Association. The annual meeting is held at the Memphis IPMS in June. MEMBERSHIP—REGULAR and LIFE. Applicants must be at least 18 years of age and of good moral character. JUNIOR. Applicants must be from 12 to 18 years of age and of good moral character. Their application must be signed by a parent or guardian. They will be preceded by the letter "j". This letter will be removed upon notification to the secretary that the member has reached 18 years of age. Junior members are not eligible to hold office or vote. Members of the ANA or other recognized numismatic societies are eligible for membership. Other applicants should be sponsored by an SMPC member or provide suitable references. DUES—Annual dues are $20. Members in Canada and Mexico should add $5 to cover additional postage; members throughout the rest of the world add $10. Life membership, payable in installments within one year, is $300. Members who join the Society prior to Oct. 1st re- ceive the magazines already issued in the year in which they join. Members who join after Oct. 1st will have their dues paid through December of the following year. They will also receive, as a bonus, a copy of the magazine issued in November of the year in which they joined. FRANK S. VISKUP, JR. SEND FOR P.O. Box 060338 FREE Staten Island, NY 10306 PRICE LIST Page 2 Paper Money Whole No. 163 Paper Money Whole No. 163 Page 3 He was born in jail Secretary of the Treasury and (later) Chief Justice of the U.S. FRED M. VINSON © by JACK H. FISHER, NLG I T was with disbelief that I learned that Fred M. Vinson, member of the United States House of Representatives, Associate Justice of the Court of Appeals for the District of Columbia, Secretary of the Treasury and Chief Justice of the United States Supreme Court had been born in a jail. This brought forth all manner of speculation as to the circum- stances, and precipitated research into facts pertaining to his birth, family, education, personal life and career. I was greatly relieved to learn that his father was the Jailer at Louisa, Lawrence County, Kentucky at the time of the birth on January 22, 1890, and his mother, as wife of the Jailer, was in the front part of the jail at the time. His parents were James Vinson and Virginia Ferguson Vinson. The name given him at birth was Frederic Moore Vinson, but he decided early in life that "Fred M. Vinson" was his preferencne. James Vinson died shortly after Fred was born, and his mother had to support the family by taking in boarders. She was determined to support her family, and stated over and over again that "Fred is going to have a good education:' Vinson helped his mother at home and worked at odd jobs. His primary employment was as clerk, janitor and runner of er- rands for local stores; the money earned was put aside for his college education. Fred M. Vinson graduated from Kentucky Normal School in 1908. He then obtained his A.B. Degree from Centre College, graduating with Honors as well as winning the coveted Or- mond Beatty Alumni Prize. Vinson continued his education, studying law at. Centre College. In 1911 he was awarded his LL.B. Degree after achieving the highest grades obtained by any law student in the history of the school, again graduating with Honors. At the age of twenty-one he commenced his law practice in Louisa, Kentucky; at that time the town had a population of ap- proximately two thousand five hundred people. The local citizens had known him from childhood as a sincere, intelli- gent, ethical and capable individual. He conducted his law practice to the satisfaction of the general public as well as being noticed by those in politics. His first political office was City At- torney for Louisa, but he left that office in 1917 to join the army during World War I. After his discharge from the army he returned to Louisa and campaigned for the office of District Commonwealth Attorney. He proved himself to be logical, elo- quent and personable on the campaign trail, and won the elec- tion. Vinson's conduct was commendable and he was advised to consider a career in national politics. Fred M. Vinson launched his national political career in 1923. There was to be a special election to fill the vacancy in the Ninth Congressional District in Kentucky. Vinson campaigned hard and won the seat. He served in the 68th-70th, 72nd, 73rd, 74th and 75th Congresses. It became obvious to those who served in Congress with Vinson that he was one who studied the facts before deciding whether to support or oppose pending legislation. He became known as one who could be instrumental in swaying the opinions of others with his persuasive arguments, tact and knowledge. This made him sought-after as an ally and feared as an able opponent. It became known quite soon after his arrival in Congress that his personal ethics and integrity required him to consider issues and individuals based upon his own evalua- tion and decision rather than what might have been expedient for his own political career. Although Vinson was regarded as a Conservative in Con- gress, he nonetheless campaigned for Democratic presidential candidate Alfred E. Smith who was not acceptable to southern voters because he was a Roman Catholic. Vinson spoke out against "bigotry during the campaign" even though his own po- litical advisors informed him that he was doing himself polit- ical harm in Kentucky. Vinson supported President Franklin D. Roosevelt in the United States Congress and supported most of the New Deal legislative program. However, he refused to support the First Economy Bill proposed by President Roosevelt, and voted in favor of the bonus for World War I veterans over the veto of the president. President Roosevelt respected Vinson for his intelligence and integrity to such extent that in 1938 he offered him the position of Associate Justice of the Court of Appeals for the District of Columbia. Vinson served on the Court of Appeals for the Dis- trict of Columbia from 1938 until 1943 when President Roosevelt appointed him Chief Justice of the United States Emergency Court of Appeals. Judge Vinson resigned from the Court of Appeals on May 27, 1943 to accept appointment as Director of the Office of Eco- nomic Stabilization, with service from May 28, 1943 until March 4, 1945. On March 5, 1945 he was appointed Federal Loan Administrator and on April 2, 1945 became Director of the Office of War Mobilization and Reconversion. Vinson did have a personal life. He married Roberta Dixon on January 24, 1923 and the children born to their marriage were Frederick Moore Vinson and James Robert Vinson. He did his utmost to be a good husband and father in spite of the con- stant responsibilities and pressures of public life. While in Congress he developed a close friendship with Sen- ator Harry S. Truman. This friendship continued, deepened and broadened during the time that Truman was Vice Presi- dent. The death of President Roosevelt placed immediate stress and pressure on Vice President Truman, and one of the in- . Truman LibraryCourtesy Harry S D 00000010 Ixx,revr.m‘k rwS cErrt0,-411.111.1,,t1Inprpa 5“15 NOM Page 4 Paper Money Whole No. 163 dividuals now President Truman turned to for advice was Fred M. Vinson. Secretary of the Treasury Henry Morganthau, Jr. and Presi- dent Truman had differences of opinion on various matters and policies. This ultimately resulted in Morganthau's resigna- tion only a few months after Truman became President of the United States. President Truman requested Vinson to fill the vacancy. Vinson agreed and President Truman appointed him Secretary of the Treasury on July 23, 1945. He served ably as Secretary of the Treasury for approximately one year. President Truman was considering the appointment of a highly qualified individual to be Chief Justice of the United States Supreme Court. It is apparent that he considered Vinson from the start because of Vinson's long experience in the House of Representatives, his judicial experience as Associate Justice of the Court of Appeals for the District of Columbia and as Chief Judge of the Emergency Court of Appeals, and his exten- sive service and experience in the executive branch of the government. President Truman nominated Secretary of the Treasury Fred M. Vinson to be Chief Justice of the Supreme Court of the United States of America and Vinson was confirmed by the United States Senate on June 20, 1946. Chief Justice Vinson assumed his responsibilities and duties im- mediately thereafter. At the time the United States Supreme Court was not func- tioning well as a result of feuds and doctrine disagreements. The situation was so bad that some of the Supreme Court justices would not even speak to each other. This was the situa- tion that confronted Chief Jus- tice Vinson who used his tact and mediation skills to enable the justices to resolve their per- sonal differences. The Truman-Vinson friend- ship was extremely close. The families spent vacations together as well as a great number of fa- mily dinners at the White House. It was reported that Truman and Vinson talked to each other in lengthy personal and telephone conversations at night and in the early morning hours. They each valued the opinions of the other and sought such opinions and input on a variety of matters. Vinson was considered to have been in the "top ten of the Truman inner circle I was quite impressed with the description of Chief Justice Vinson: "Physically . . . he was a tall, large, vigorous man with gray hair, blue eyes, deep lines in his face, dark circles under his eyes and shaggy eyebrows. He looked like an extremely dig- nified sheep with a hangover, but he was not at all like a sheep and he never had a hangover. He was genial, affable and kindly, hearty and sincere, amiable and unaffected . . . a dignified man of grave demeanor, calm judg- ment, a great amount of patience with a common sense ap- proach to hard problems, together with a hard working nature, a canny and logical mind and great political knowhow" (The New York Times, 8 Sept. 1953). Chief Justice Vinson died of a heart attack on September 8, 1953. He was only 63 years of age. His accomplishments were recognized in his lifetime. He had received many awards and honors, among which were the Presidential Medal of Merit and Distinguished Service Medal. He held Doctorate Degrees from Centre College, University of Kentucky, Mercer University, Bethany College, Princeton, University of Louisville and Dick- inson College. Collectors of notes with the signature of Fred M. Vinson as Secretary of the Treasury have a collectible steeped in many facets of the history of the United States. The fact that he was "born in a jail" to a family of very modest means, suffered the death of his father before he could get to know him, and earned money for education the hard way, makes his accom- plishments and achievements even more impressive. Vinson applied himself to excel at all levels. Collectors of United States paper money who desire to col- lect one each of all of the notes issued with the facsimile signa- ture of the Secretary of the Treasury Fred M. Vinson have a goal set for themselves that would be admirable to pursue and would also be quite expensive. The notes with the facsimile sig- nature of Secretary Vinson consist of the LEGAL TENDER $2-1928E and $5-1928D; SILVER CERTIFICATES $1-1935B, $5-1934B, $10-1934B; FEDERAL RESERVE NOTES $5, $10, $20, $50, $100, $500, $5,000 and $10,000, all 1934B. This could make a most impressive collection, with denominations ranging from $1 through and including $10,000. The records set forth that although there were notes issued in the $5,000 and $10,000 denominations with the signature of Secretary Vinson, there were no $1,000 notes issued. Collectors with unlimited financial means who desire to collect the $10,000 1934B note with Vinson signature will dis- cover that only 24 such notes were printed. and these were is- sued only for the New York District. The $5,000 1934B notes with the Vinson signa- ture were issued only for the Boston and New York District. The records show that 1,200 were issued for the Boston Dis- trict and a mere 12 for the New York District. The face value alone would price these notes out of the practical range for all but a few collectors. But, adding the rarity factor, it could well be that these notes would make an interesting and difficult pursuit for those collectors who de- sire such notes, and who can afford to pay the price once such notes are located. The $500 1934B notes with the Vinson signature will also prove to be elusive and expensive. These notes were printed Paper Money Whole No. 163 Page 5 only for the Atlanta District, with the quantity printed under 2,500 notes. The other Federal Reserve denomination notes should be available in the 1934B Series with the Vinson signa- ture without too much difficulty, in various conditions, with prices not being overly expensive. The Legal Tender 1928E and the $5 1928D are available with some searching at fairly reasonable cost, although fairly expen- sive in top grades. The "Star Notes" are elusive and quite ex- pensive. The $1 1935B Silver Certificates are available in grades up to top grades at rather reasonable prices. The 1934B $10 Silver Cer- tificates are difficult and expensive in both regular issue and "star" notes. The $5 1934B is available and reasonably priced in regular issue, but is more elusive and expensive as "Star" notes. Collecting the Vinson notes could be a lifetime pursuit for the specialty collector. A completed collection of such notes would be most impressive, but not quite as impressive as Vinson him- self and his accomplishments. Vinson accomplished many projects during his one year of service as Secretary of the Treasury. Two of the most important were the establishment of the International Bank for Reconstruc- tion and Development and the International Monetary Fund. Any individuals with unusual notes with the signature of Fred M. Vinson in the capacity of Secretary of the Treasury are re- quested to transmit such information to Jack H. Fisher, 3123 Bronson Boulevard, Kalamazoo, Michigan 49008. Information so obtained will be shared with the numismatic-syngraphic com- munity. ■ Syngfaphic Vignetteb by ROBERT H. LLOYD As mentioned some months ago, the 1920s was a great time to start collecting paper money. Not only did foreign notes be- come every day experiences for the first time for many Americans (the notes were being hawked on street corners), but our own paper money was going through lasting changes. For those collecting paper money, the 1920s witnessed: (1) the retirement of the Federal Reserve Bank notes of 1915 and 1918; (2) the last emissions of $10 and $20 greenbacks; (3) the last releases of silver certificates in $2, $20 and $50 values; (4) the release of stored gold certificates, and a new series of them dated 1922 with a legal tender clause added; (5) four new de- signs, which were to be the last of the large-size notes desig- nated Series of 1923; (6) minor changes in national bank notes wherein the district letter and the Treasury serial number were omitted; (7) the passing of the final national bank notes Series 1882 (1908) the "value backs"; (8) alteration of the face plates of lower value Federal Reserve notes, which moved the seal to- ward the center of the right and left half of the notes; (9) for the very observing, the starting over of the back plate number loca- tions on U.S. notes and certificates; and (10) the printing of the new series of small-size notes, Series of 1928, given to the public on July 10, 1929. The writer became aware of these changes while handling notes in the course of his employment, and the study of the Treasury figures in the Monthly Circulation Statement. Most of our currency catalogs are check lists, but several give short histories of the different classes of currency. For those of you who might wish a better vision of this dynamic decade, the following table is submitted. The period is from 1917 when World War I caused many changes, to the late 1920s, when cur- rency came under the control of the Federal Reserve Board as well as the Treasury. Decreasing in use The Period 1917-1920 Increasing in use $50 $10 $20 $50 $100 1 United States notes $1 $2 $1 $2 $5 $10 $20 2 Silver certificates $10 $20 $50 $100 3 Gold certificates $20 $50 4 Federal Reserve Bank notes $1 $2 $5 $10 Federal Reserve notes all denominations The Period 1921-1924 $1 $50 United States notes $5 $10 $20 $10 $20 $50 Silver certificates $1 $2 $5 Gold certificates all denominations $1 $2 $5 $10 $20 $50 Federal Reserve Bank notes Federal Reserve notes all denominations The Period 1925-1928 $1 $10 $20 United States notes $2 $5 $2 $5 Silver certificates $1 Federal Reserve notes all denominations I Impounded by the Treasury to increase Series 1917 $1, $2 2 Impounded in part due to melting of silver dollars, Pittman Act. 3 Impounded by Federal Reserve to protect gold reserves in vaults. Taken in to replace with small bills to meet demands of business. The total amount of U.S. notes was fixed by law in 1879, when Congress, in response to popular outcry, ceased retiring greenbacks. The total amounts of certificates was limited to the amount of gold coin and silver dollars held in the Treasury. Ending the wartime impoundments placed a few higher value silver certi- ficates in circulation in 1920 and 1921. National bank notes are not included in the preceding table. There was a gradual decrease in total as banks were liquidated or converted to state banks. Federal Reserve notes increased almost every year, proving them to be less "elastic" a currency than promised, and they be- came our principal inflationary issue. FP,141181 F Flf.I1T PER eriVrS rors OR BONDS II C0.4'FEUERlTESTATF.S PF,6HEBlCA dCJ -t" fa:* Ire (d1;'PLOO/ 0741 forRegister Page 6 Paper Money Whole No. 163 Counterfeits of the Confederate "INDIAN FAMILY" Note by BRENT HUGHES T HE genuine Criswell Type 22 Confederate note is an exquisite steel-plate engraving by the New Orleans office of American Bank Note Company of New York, operating as the "Southern Bank Note Company, New Orleans" Under very difficult circumstances, Samuel Schmidt and his small staff managed to print 58,860 of these notes before the Confederate Treasury Department shut them down. The note is described by Criswell as "Group of Indians, Thetis left, Maiden with 'X' at Right!' For convenience, most collectors call it the Indian Family note because the center vignette portrays a brave, a squaw holding a papoose and a young boy, presumably their son (Figure 1). The tireless team of Temple Ellett and Harrel H. Goodloe signed 20,000 of these notes, and almost all guidebooks portray notes with their signatures. Other teams signed the rest of the notes, of course, but the Ellett-Goodloe notes seem to dominate the specimens that exist today. All the counterfeits of this note that I am aware of also bear the Ellett-Goodloe signatures and are based on a note bearing plate letter "C" and serial number 3312. We also meet the rather mysterious individual named Adrian Sharp whose name appears on some of the counterfeits. He was the probable woodcut artist who created the first copy of the Type 22 Confederate note for a newspaper or magazine. Such artists were prized employees and, as a result, Sharp may have been allowed to "sign" his work. (See PAPER MONEY No. 155, p. 157). A word of caution is in order at this point. Some authors of recent articles in various numismatic publications make posi- tive statements about Civil War history and have chided me for using such words as "apparently," "presumably" and the phrase "it would appear" in my writing about Confederate counter- feits. I use such qualifiers to indicate that I do not have positive evidence in some of these matters. I am making educated guesses and want the reader to understand that. Someone once said that history, as recorded in modern textbooks, is nothing more than "lies agreed upon!' All accounts of historical events are biased to some extent, depending upon the writer, so hard facts are difficult to come by. In spite of extensive research, Sam Upham, the Philadelphia shopkeeper turned publisher, remains an enigma. Some be- lieve he was an innocent seller of souvenir facsimiles of Con- federate notes. Others believe he produced such notes knowing full well that they would be passed off as genuine. Still others believe he was an agent of the Union government who used paper and ink supplied by that government to flood the South with counterfeits and thus destroy the confidence of the people in their paper money. Whatever he was, he was deeply involved in the production of what we consider today to be counterfeits of the Type 22 note. I have never heard of a lithographed counterfeit of Type 22. This may be due to a number of factors. First, the genuine note was a steel-plate engraving, highly detailed and difficult to copy. Second, the genuine note has a red-orange overprint and Figure 1 Criswell Type 22 Confederate note; $10 issue dated September 2, 1861; Indian Family at center, Thetis at left, Indian woman at right. Produced by Southern Bank Note Co., New Orleans. Printed in black with red-orange overprinted "X" and 'X" medallions at upper left and upper right and large "TEN" over small "TEN" network at lower center. Serial number 1149 is written in brown ink; signatures of T Ellett and H.1-1. Goodloe are written in brown ink. Plate letter "B': Note is also found with plate letters "A" and "CT Paper is of good quality and contains red fibers. Paper Money Whole No. 163 Page 7 most counterfeiters tried to avoid such things. Third, the gen- uine note is a $10 bill and it was obviously more profitable for a counterfeiter to make $20 or $50 notes. The result, so far as I know, was that the professional coun- terfeiter did not involve himself with the Type 22 notes; it was easier to copy the simple black-line genuine notes produced by Hoyer and Ludwig. Such counterfeits of Type 22 that do exist were made from electrotype plates of woodcuts created by newspaper artists. I believe that the first facsimile was the woodcut created by Adrian Sharp, who used as his model the genuine note number 3312 signed by Ellen and Goodloe. Since newspapers of that era did not use color printing, the immediate question is who created the red-orange overprint that crudely imitated the over- print of the genuine note. Somebody made a separate woodcut from which a separate electrotype plate was made. Another one of those mysteries to fascinate collectors. In any event, Sam Upham left the Adrian Sharp name intact and simply added his typeset inscription low enough on the bottom edge to accommodate the Adrian Sharp name (Fig- ure 2). Later on, Upham removed the Adrian Sharp name and moved his inscription upward, closer to the note design. Why would Upham go to this trouble? Perhaps Sharp demanded that his name be deleted (Figure 3). Next came a version of the Adrian Sharp woodcut without the serial numbers and with a typeset "Fac-Simile Confederate ---,- !paLtxamfammgaiximmealwaraiiiterlax&LuLliCirr - e. -1 ; -- ..... „.. - /he - ' • , I air % • .... ..„, ert,, ...,... h i;. - 41", . . ,....... eqr,;, ..,...:_.! ._ /z - _._._ . . e ., .., Gail E le, ° , <4,a . .. . ------ '' .......... • , ....le t: /I" ,,, 0 r :•-■ . , f 1C ' , /;41 ... 44 4 VIMPIIIIIIPA ' ' '- 4" . . -- 7 l imo.< .ire i. ..., • gto- . ... . 8.-kft... , .,-y J'li I: CFAV AB LE J\ PAY NI EN r I I ALL DUES FXI .EPT EXPORT 11IIT.IFts1.. ADM. umme I , - Figure 2 Woodcut copy by Adrian Sharp who used genuine note with serial number 3312 as his model. Printed from electrotype by S.C. Upham of Philadelphia, with his advertisement in tiny block letters along the bottom margin. Imitation of the orange overprint was printed with a separate electrotype plate from woodcut by unknown artist. Serial number 3312 and natures are printed. This woodcut has pine trees behind the Indian Family at upper right center and "New Orleans" in letters at extreme left above the "10" counter, both of which appear on the genuine note. plate red- sig- tiny i -.. -: 'i' , , 9 •%..,11 ,•.....:. (V4/ .h. '': -,1 11.h . - -z.-- , - -, ,.. i • ,E■ 4• ' ---e.r....marmsellsaimasimlauastiimmusatiiiimewasaaluaur-* / .„,.4,4;.. Ihe = ' . llait ''''-' „ - I . r, A . •,..«.w. '''rtl 1/4;;. ---":—. -.- - viz...__. '.: 47.44 .9 -- . - ' v...Tt;'-41 „-,2te i ,, , w---,,- , / • 4..... .. ' , i 3 --., • t.r. __,.... AO" ferir4•Ittrer. . ' •i■ ' „ .. .. 1 TA Clatit - ' 11, T st. <,„ 0• 141 ,1 Figure 3 The same woodcut by Adrian Sharp but with his name removed from left bottom margin. Printed from an electrotype plate by S.C. Upham of Philadelphia, with his advertisement in tiny block letters along bottom margin. Note that with the Adrian Sharp name removed from the plate, Upham was able to move his advertisement upward and closer to the note border. All other details are the same as on previous note. FV.4'nAOGF /N 1"GL yTA YERGEN T.STOCH le a IA/ t, Of COt FEDERATE STATES OF AMERICA gitECEIVABLEINT'T'AYNTENt" OF ALI. DUESEXCEPTEXIlyt IT rl 'V 4 'Mint Mr X,,PrO r •.cst.tt lie Off era between 1h9 anal4eatAggeties. I•T ',POUT tH;TIFN Page 8 Paper Money Whole No. 163 Note' inscription running vertically along the left margin, far enough away to allow for easy clipping. Many of these copies, with the left margin trimmed off and written serial numbers added, may have been passed off as genuine notes (Figure 4). Just to make things even more puzzling, I also have a strange specimen (Figure 5) which has no Adrian Sharp name, no serial number and no red-orange overprint. Along the left margin is a typeset italic "Fac-Simile Confederate Note:' which is closer to the note design than the previous note. Does this note exist somewhere with the red-orange overprint? There is another woodcut which is completely different from the Adrian Sharp version. It is very crude by comparison and may have been created by a lesser-skilled artist who used Sharp's version as his model. The easiest identification point is the ab- sence of "New Orleans" on the left end just above the "10" counter. There are other flaws, the most notable being the absence of the pine trees behind the squaw at top center (Figure 6). Rounding out the varieties is one of the second woodcuts (Figure 7) in which someone removed most but not all of the serial numbers from the electrotype plate, a simple task with a sharp chisel. He left fragments of the numerals 3312 which show clearly on his copies but other numbers could have been written over the fragments. Odd situations abound in Con- federate notes. I have never seen or heard of any of these woodcut-electro- type copies with blank signature spaces or with other signa- Figure 4 The same woodcut copy by Adrian Sharp whose name may have been trimmed off the close-cut bottom margin. Other margins are quite wide. "Ric-Simile Confederate Note." is printed in small letters on the wide left margin. Blank spaces for serial numbers. Signatures are printed as on previous copies. Some collectors believe that notes with this inscription were printed by S.C. Upham but others believe that such notes were printed by one of Upham's competitors. Figure 5 This unusual copy was printed from an electrotype plate of the Adrian Sharp woodcut after Sharp's name and the serial number 3312 had been removed. "Fac-Simile Confederate Note." in italic style lettering appears on the left margin. There is no red-orange overprint. This note may have been thrown out by the printer because of a misalignment on the paper which cut off the upper right border: This note may exist with printed serial numbers and the red-orange overprint. . • •• Vt. Can!!! °CRATE Avf ilaMc'al7o 'N'tarea -0 --aadikeLiu? aid watat9 limlontit3 "....=^5e*" 'RE-CEIV lE IN'TWYM CNT 0E 1' Ti s EXC EXPNiTA UTIE 5 Figure 6 This copy was made from a different woodcut by an unknown artist. It was printed from an electrotype plate by an unknown printer. Since it has the same serial number 3312 as the Adrian Sharp woodcut, the artist may have used one of Sharp's copies as his model. This woodcut is more crude than Sharp's version, especially in the lettering. It also omits the pine trees and "New Orleans" which are found on the Sharp rendering and on the genuine note. igr.ENT,S7W.. OP so.os•or CO/vrtOrRATE 5T4rEf F MER , CA 0 PEC.2tiriiiLEp: P.'N'ECNI OE ALL TFJES Ela LPT EXPORT DUTtC5 Figure 7 This is the same woodcut as Figure 6 except that the printed serial numbers have been almost removed. Fragments of the removed numerals can be seen in the blank serial number spaces. This is no definitive in information on who might have printed this copy. S.C. Upham was swamped with orders for his products at one time and in his haste to fill them he may have purchased more than one electrotye plate. Thus we might find many variations of these copies which were all descended from the two woodcuts. Paper Money Whole No. 163 Page 9 tures written in. Nor have I seen or heard of a plate letter other than "C." But out there, some place, there may be many other varieties, perhaps even a decent lithographed counterfeit. One of the fascinating aspects of counterfeit collecting is that one can never be surprised at what turns up, even now. Sources: Criswell, Grover C. (1976). Confederate and Southern States Currency. Thian, Raphael P. (1972). Register of the Confederate Debt, reprint by Quarterman Publications, Inc. Paper Money Whole No. 163Page 10 Matched Series Dates and Charter Numbers on National Bank Notes 0 NE possible set that caught my attention early in mycollecting career was one comprised of national bank notes in which the charter number matched the series date. This quest was stimulated by finding a Series of 1882 brown back from The Will County National Bank of Joliet, Illinois, charter 1882 in the Ella Overby hoard from Glenwood, Minnesota. The hoard was found in Mrs. Overby's two room shack in Glenwood, Minnesota, upon her death in 1970. It contained $96,000, including $18,000 in large-size notes of which $7,400 were nationals from 31 states. John Hickman and John Waters purchased the non-Minnesota nationals and were so excited about them, they invited me over to Des Moines for a look before they had even catalogued them. Hickman and Waters ultimately sold the notes through their fixed price lists in 1971. When I arrived in Des Moines, Hickman and Waters could hardly contain their excitement. They proceeded to show me the notes one at a time, with obvious delight at each interesting item. This took almost an hour of hurried looking. We all leafed past the Joliet note without spotting the 1882. I returned April 3, 1971, for a much closer look after they had catalogued the notes. Naturally I had hopes of buying a few pieces. This time the bold 1882 on the back of the Will County note clamored for attention. I asked Hickman "Why don't you sell me this common Illinois note?" He didn't even bother answering. This note was clearly not the type of thing I bought, and it was low grade, VG or so. I had been selling them this type of material for years and he knew something was up. Hickman turned to Waters who was also equally suspicious saying "He sees something we don't, what do you think John?" Hickman went over the note in meticulous detail, finally reaching into the drawer for a magnifying glass to get an even closer look. I felt my chances were rising when after some ten frustrating minutes he handed the note over to Waters who was also at a loss for my interest in it. I knew the 1882 had escaped them, so I reached for the note and asked for a price. Simultaneously a chorus went up from the two of them. "No you aren't getting it until we see what you see!" Hickman took the note from me and continued to study it for maybe another ten minutes, scanning it, feeling the paper, comparing every detail to other $20 brown backs, and even smelling it. Finally an expression of delight crossed his face and in an ear splitting roar he exclaimed "Waters, the charter number and series are the same!" Hickman was practically rubbing the back in Waters face now. As you can imagine, the price negotiations took another half hour. They let me off for $55, which seemed like a lot of money to me in 1971! THE PAPER COLUMN by Peter Huntoon Now I was hooked. I quickly researched the other possible notes in the set, charters 1875, 1901 and 1929. The facts are as follows. Charter 1875 was given to The First National Bank of Kutztown, Pennsylvania, in 1871. This title was changed to The Keystone National Bank of Reading in 1882. The bank was liquidated in 1926 during its Series of 1902 issues. A Series of 1875 note was possible for either title. Charter 1882 was obtained by The Will County National Bank of Joliet, Illinois, also in 1871. That bank went into receivership in 1931, so it issued notes from every series. Its Series of 1882 brown and date backs are the important issues here. Naturally I prefer the brown backs because of the bold 1882 on the backs. Charter 1902 belonged to The First National Bank of Chetopa, Kansas, yet another 1871 bank. This bank is the big disappointment. It was liquidated in 1875, after issuing only Original Series notes. No Series of 1902 note for this peculiar set is possible. Charter 1929 was awarded to The First National Bank of Shelby, Ohio, in 1872, and that bank lasted through the entire note issuing period. Series of 1929 notes would be available and should be easy to locate. That turned out to be a false hope! After the 1882 Joliet, the next addition to my three note set was the toughest piece, the Series of 1875 from Reading, Pennsylvania, purchased from Lynn Knight in February of 1974. It was XF, the nicest grade in my set. This chase was too easy. I had two of the three after only three years. As these things go, the easy 1929 note turned out to be the tough piece. About ten years ago I asked Ohio dealer Don Kelly about them and he told me he remembered handling only one of them. He did come up with a Type I $20 in VG, his second, but it had some writing erased from the face and 1 passed on it. Finally, after searching price lists for two decades since this quest began, one showed up on Allen Karn's July-August 1990 list. It was a $10 Type I. I quickly called but it just wasn't made for me. I missed it. These Shelby's were tough and in demand to boot! Kam handles a lot of notes and he is situated in Ohio. Every time his price list comes, the first thing I look for is another Series of 1929 Shelby. My fortunes finally changed this past week when his July 1992 list arrived, yielding the $5 Type II shown here. I called immediately, got to it before it had been sold, and finally, after 21 years, finished this three note set! I think this set is curious. Maybe the logic underlying it is even arcane. But what can you expect of someone who spent years waiting for the same license plate number, 1875, to become available for his car, pickup truck, utility trailer and even an old motorcycle. Other people have shown off notes to me that contained some internal coincidence such as having matched charter and serial numbers. Now they can aspire to one with matched series date, charter number, and serial number! Paper Money Whole No. 163 Page 11 _ski Via CURSE B ■ roitri3OTE IS SI:er4tF:1) ) V679782 1, iloNDs v:t *v70: / „$10:1 4-aunta1.:41i „Ate all i 34‘g —WillItl===ankr131-11311 ,E=0 •=.• _ at& pt'immiW With tht austrar ant000totitu 3615 7-77-6 • 34. 761 et 07 .awedocesx 1111= t(SaWf204wcNiTi.20 rhVENTIL'Y OelHot0. 4"fill114•1Si) Ea ,IL IS l'WENTY XYZOFl-i1112 ITTIVENTY Ilt4.- ' -fk- Lui,.143...D ,, I ,,,, Lust s .r.Lt.L.i., ....4frilkiliaVi .1' 11.111.411.4.4,11.V.J4744* .14.k z .0 1,11/41.r !.....s..U.' • At4.4424.1444-cleltzt,ua,r1.1404.6 Lriax,v.pw: , A .. ...1 tel 2 wr 404041 VII' a.J.L11.11111.7,24 ,-4 '.1.J.L.L.Lis I ,0 , , 11,7,W,4-b -Z 1101.1iLa iLL:-:.-.:.*...Z.E..a.Y.L.V. , !.., .. ■ _ — - . NATIONAL CiTICHEINCY 5ECLIIIEB BYLIIIITEU STATES EPOS OEPOSTEDWITH THETREASIMER Oi TITIENN1201-11 THE FIRST 1929 A001097 NATIONAL BANK OF SHELBY OHIO REDEE M WILL PRY TO THE BEARER 0 N DEN. THE UNIT 1111.1 DOLLARS P. TREASU r. The series date matches the charter number on each of these. Page 12 Paper Money Whole No. 163 Tales of the Secret Service JACOB OTT, Champion Printer of Counterfeit Currency by BRENT HUGHES J ACOB Ott was a rather tragic figure in the fraternity of counterfeiters. His misfortunes centered around two per- sonality flaws. He refused to heed the good advice of his wife and he talked too freely over "a social glass of spirits" The combination led to his undoing. John S. Dye, Ott's biographer, made much of the fact that Ott was able to print $500,000 worth of counterfeit money in just thirteen months. Even more impressive was the fact that Ott was a lithographer and not a plate printer, which he had to be- come to produce that currency. Ott is credited with printing all of the counterfeit $50 notes of the Central National Bank of New York, the Third National Bank of Buffalo, the National Broadway Bank of New York and the Tradesman's National Bank of New York. He also printed all of the counterfeit $5 bills of the First National Banks of Hanover and Tamaqua, Pennsylvania. His career was inter- twined with those of Charles Ulrich, an engraver known as "boss cutter" to his associates, and Henry C. Cole, money man and distributor of millions of counterfeit notes. Mrs. Ott was completely opposed to her husband's associa- tion with these two counterfeiters and said so repeatedly. She even threatened to turn the three men over to the police. They finally got so tired of listening to her that they concocted a plan to get rid of her. There was some property back in her native Germany that needed to be managed, they told her, and if she would go there and take care of that problem, they would wind up their activities in the United States and join her later. She agreed and thereby remained free when the men went to prison. In 1869 the U.S. Secret Service had thrown out its first chief, the notorious William P. Wood. His successor, Herman P. Whitley, had begun many reforms before he left the agency in 1874. Elmer Washburn served for only a short time but did a lot to improve the Service's image. He was succeeded by the vet- eran James J. Brooks, who was a most effective leader. For the year ending June 30, 1877, Chief Brooks reported that his thirty-four agents had arrested four hundred and thirty-seven counterfeiters during a year when the agency's total budget was only $92,341. Brooks was in office when Jacob Ott came on the scene. Ott was born in Frankfurt am Main, Germany and had worked as a lithographer. He and his wife came to the United States during the great wave of emigration that brought thou- sands of Germans to this country. In July of 1876 the couple was in Cincinnati and Jacob needed a job. He saw an ad in the local paper in which a com- pany in Columbus, Ohio was seeking a lithographer. Jacob an- swered the ad and was soon visited by a representative of the company. His name was Charles F. Ulrich, a professional en- graver. He did not tell Ott that he had just been pardoned out of the Ohio State Prison at Columbus by a grateful warden and governor for whom Ulrich had done some splendid engraving. In fact, the warden, a Colonel Inness, actually set up an en- graving business for Ulrich, hoping to obtain a lot of printing contracts from the state of Ohio via his friend the governor. Ott, it seemed, was exactly the man Ulrich was looking for. He hired him and the Otts moved to Columbus for what they believed was a legitimate job. Three months later, in October 1876, Ulrich delivered the bad news. The business had failed because the state contracts had not materialized. This may or may not have been the truth because there is evidence that Ul- rich had been contacted by the sinister Henry Cole and urged to join him in Philadelphia where they would both get rich making counterfeit money. In December 1876 Ulrich and Cole were living in a house at Sixth and Cumberland Streets in Philadelphia and Mr. and Mrs. Ott were living in a rented house at Oak Lane, about six miles outside the city. Ulrich was hard at work on plates for the $50 notes of the various National Banks of New York. All were precisely alike, being transferred from a master die. The names of the banks were left off and the printed notes had a blank space where the names of different banks of similar length could be inserted through the use of "skeleton plates" The counterfeiters watched the papers and as soon as one note was detected, they switched bank names and kept printing. When the plates were about finished, Ulrich decided that the Otts' home offered a safer base of operation and moved in as a boarder. Cole came and went, delivering supplies. A press was set up in an attic room and production got underway on May 1, 1877. Cole delivered the first notes to his "shovers" on May 7, 8 and 9. The first bill was passed into circulation at Baltimore on May 10 and cleared the bank. On May 11 the first note was passed in New York City but was immediately detected. The next day the newspapers warned their readers to watch for dangerous counterfeits of the $50 note of the Central National Bank of New York. Nevertheless, the quality of the note was such that the gang passed $40,000 worth during the first ten days. Ott had already changed the skeleton plate to print the same counterfeit with the name of the Third National Bank of Buffalo, the words 'Third" and "Buffalo" taking up the same space as "First" and "New York" Even though the Secret Service was keeping an eye on Cole and Ulrich, Ott continued to work twelve hours a day. Mrs. Ott was outraged at this activity; someday, she predicted, all three of the men would go to prison. By the time this second note was detected, Ott had printed 2,000 pieces. John S. Dye, in discussing these counterfeits, mentioned that while Henry Cole was one of the "smartest" criminals around, he seemed to have had a blind spot when it came to under- Paper Money Whole No. 163 Page 13 standing charter numbers. Each bank in the country had a unique charter number that was printed on its banknotes. As an example, Dye mentioned the First National Bank of Tamaqua, with charter number 1219 appearing on each of its genuine notes. For some reason Cole did not grasp the concept and used numbers above and below "1219" on the counterfeits, apparently confusing charter numbers with serial numbers. Bank tellers and Secret Service agents all over the country used this error to quickly label the counterfeits for what they were. The public was taken in, for the most part, and the notes circu- lated until they were deposited at a bank. While at Oak Lane, Ott printed 8,000 of the Tamaqua $5 notes. Dye's Government Counterfeit Detector for October 1877 listed it and declared it to be a "very dangerous" counter- feit. Newspapers also carried a description. Something must have hap- pened at Oak Lane to alarm the residents because they suddenly moved everything to Darby, a village ten miles from Philadel- phia. Ott was soon back in oper- ation and printed 2,000 pieces of the $50 note of the National Broadway Bank of New York and of the Tradesman's Na- tional Bank of New York. Ulrich meanwhile created a skeleton plate on the First National Bank of Hanover, Pennsylvania and Ott printed 20,000 counterfeits of that bank's $5 bill. Cole was a clever distributor. He sent great quantities of Ott's products to Germany using two couriers with passports in the names of J.E. Conkling and John Baker. Most of the counter- feits had been passed into circulation before German authori- ties arrested the two couriers. In April 1878 Cole, Ulrich and Ott were getting increasingly nervous and decided to close their printing plant. Presumably Mrs. Ott had already left for Germany and Jacob suddenly found himself unemployed and doing his own cooking. He had saved some money, however, and used it to buy a saloon in New York City. It soon went bankrupt under conditions that make one suspect that Jacob was consuming too much of his inventory of "spirits" Somehow Ott got a job in a legitimate printing firm and was doing well during the day, even though he continued to drink heavily in the evenings. Dye described this problem in his own words as "Ott is a person of social and convivial habits, some- what garrulous when under the influence of his potations!' Today we would say that good old Jacob loved his liquor. Chief Brooks at Secret Service headquarters was making life miserable for the counterfeiters. Even though Cole and Ulrich were being watched constantly they managed to make plans for a new venture. They learned that the Bureau of Engraving and Printing was about to introduce intricate scroll work on U.S. currency through the use of a geometric lathe. It was be- lieved that this kind of engraving would be impossible to imi- tate. Ulrich knew better and promptly designed a machine to duplicate the scroll work. Cole was delighted, of course, and the two decided to counterfeit the new $100 U.S. Treasury note. They would print and pass a million dollars worth in Europe and the United States and do it quickly before anyone caught on. They had only one problem—they needed a printer, which meant that they had to locate Ott. Ulrich contacted some of his many friends and soon had Ott's address in New York. When Ulrich left Philadelphia on the train, a Secret Service agent was sitting behind him. He stayed with Ulrich until he found Ott, then called in another agent to watch Ott. Back in Philadelphia Chief Brooks put a twenty-four hour surveillance on the elusive Henry Cole. It was time to concentrate on the trio. Brooks brought in agent M.G. Bowers from Tennessee to tail Ott to one of his favorite sa- loons. On the evening of November 13, 1878 Jacob Ott was enjoying a drink in a bar at 9 Spring Street. Drinking alone was not much fun, so he was pleased when a stranger began a conversation. He liked M.G. Bowers instantly and, as the eve- ning wore on, the two became good friends. They agreed to meet for drinks the next evening. On November 16, Bowers told Ott that he had just been paid and proudly displayed a $100 and $50 bill from his pay envelope. Ott laughed and told Bowers that he could make notes just as good. Bowers chuckled and said, "If you can make them, we can make a good deal of money together!' Ott replied, "I've made thousands of them!' Bowers was all ears. After agreeing to go in business together, the two men went to Philadelphia where Ott was to see Henry Cole, who had the plates they needed. Cole was suspicious of the whole setup and gave Ott a good tongue-lashing. When Ott saw Bowers again he refused to even discuss the matter. On January 20, 1879 Officer David H. Gilkinson quietly arrested Jacob Ott at his place of work and escorted him to his room where the officer found evidence of counterfeiting activity. Ott found himself facing his old friend Ulrich, who had agreed to testify against him in court. Ott was extradited to Pennsylvania, where Ulrich testified. Ott never had a chance. The Secret Service had done its work well and the evidence was overwhelming. Ott was found guilty, and on March 11, 1879 was sentenced to ten years in prison. Over in Germany Mrs. Ott could almost be heard saying, "I told you so:' Chief James J. Brooks headed the Secret Service until 1888. He had served under five presidents and nine Secretaries of the Treasury. So popular was he that when he submitted his resig- nation in 1885 no one would accept it. Even in 1888 his appli- cation for retirement was accepted only if he agreed to stay on as a consultant with the title "Operative Special Agent!' Brooks did so and served with distinction until 1893. (Continued on page 28) Page 14 Paper Money Whole No. 163 The Unwelcome Guests by BOB COCHRAN Hagerstown, Maryland and Chambersburg, Pennsylvania were both "visited" by Confederate cavalry troops under the com- mand of Brigadier General John McCausland during July 1864. Both towns were held up for ransom, with demands for money and clothing placed upon the citizens; if the items "requis- tioned" were not forthcoming, the towns were to be burned as a penalty. This story will relate how quick action by the presi- dent of the Hagerstown Bank saved that town from the torch, and how Chambersburg wasn't so lucky—it was burned to the ground. Brigadier General John McCausland, CSA, was a bonafide leader during the Civil War. He served admirably in the Con- federate army, first by spiriting his troops to safety out of the doomed Fort Donelson before it surrendered to Grant, and later in defense of the Shenandoah Valley region of Virginia against superior Federal forces. He refused to surrender his command (which had dwindled to some 200 men) at Appo- mattox, and broke through the Federal lines; he disbanded his forces at Lynchburg, Virginia, and formally surrendered at Charlestown, West Virginia several days later. THE SITUATION IN 1864 B Y the summer of 1864, the south was losing the war. The Confederate forces were fighting superior numbers on all fronts, trying to stave-off complete defeat. Sher- man was beginning what was to be his famous "March to the Sea" and Lee was concerned with the defense of Richmond. Federal forces under Major General Phillip Sheridan had in- vaded the Shenandoah Valley of Virginia, and he left little doubt as to his mission there; Sheridan planned to reduce the Valley of Virginia to such a state that "a crow flying over would have to carry provisions with it" Major General David Hunter, a subordinate of Sheridan, had carried out his orders zealously. Confederate General Jubal Early, McCausland's superior, wrote in his memoirs: 'The scenes on Hunter's route were truly heart- rending; houses had been burned and helpless women and children left without shelter. The country had been stripped of provisions, and many families and bedding had been cut to pieces, and old men, women, and children had been robbed of all the clothing they had, except on their backs. Ladies trunks had been rifled and their dresses torn to pieces in mere wan- tonness" General Hunter had burned the Virginia Military In- stitute in Lexington, Virginia, where McCausland had been a student and an assistant professor of Mathematics. (One of his associates there was future Confederate General Thomas "Stonewall" Jackson.) Hunter had even directed the burning of the home of his own uncle, who had taken him in as a young orphan. McCAUSLAND VISITS HAGERSTOWN On July 5, 1864, Hagerstown, Maryland was occupied by some 3,000 Federal troops under the command of Brigadier General William Woods Averell. After a short skirmish the next morning, General McCausland and 1,500 of his cavalry were in control of the town, having driven out the Federal forces. John McCausland, Brigadier General, CSA; wartime photograph. McCausland set up his headquarters at the Market House, and sent for the town officials. The only one to respond was Mat- thew S. Barber, the town treasurer—the other city leaders had fled with Averell's troops. Mr. Barber was accompanied by John H. Kausler, the teller of the Hagerstown Bank. Barber and Kausler were presented with a written requisition by McCausland, for the town to furnish him with $20,000 in cash, plus 1,500 outfits of clothing (shoes, hats, caps, coats, trousers, etc.). Barber tried to convince McCausland that the demands were exorbitant, but he was told that if the requisi- tion was not met, the town would be burned; the town had one hour to comply. The president of the Hagerstown Bank, James D. Roman, was in town, having recently suffered an injury. He was asked by Mr. Barber to lend any assistance he could; Roman went to the Court House and was finally granted an interview with General McCausland. Mr. Roman duplicated the efforts of Barber and Kausler, explaining that the stores had been emptied of their contents and the merchants had fled. However, Roman held out the hope that the $20,000 could be raised. After some argu- ment, McCausland agreed to take the money and as much clothing as could be raised in three hours; however, he stiplu- ated that the remaining residents were not to be told that any- thing less than his original demands would be satisfactory. Page 15Paper Money Whole No. 163 Matthew S. Barber, treasurer of Hagerstown when James D. Roman, president of the Hagerstown McCausland and his troops "visited'=later president of Bank. His quick thinking saved the town from the Hagerstown Bank. being burned by the Confederates. John H. Kausler, teller of the Hagerstown Bank. Those directors of the Hagerstown Bank who were still in town held a meeting to discuss how they would raise the $20,000. Roman proposed that the Hagerstown Bank would advance $10,000 of the sum, and the First National Bank and the Williamsport Branch Bank would each provide $5,000. A note for $20,000 was drafted, and it was made payable to the banks by the Corporation of Hagerstown. Mr. Barber signed the note as town treasurer, and he procured the signatures of all the other leading citizens he could find. The money was presented to General McCausland, along with the outfits of clothing that were raised. Alexander Neill II, a leading citizen, drafted a receipt for the money and clothing, which was signed by General McCausland. The Confederate troops withdrew from Hagerstown that same day, and the citizens who had remained in town breathed a great sigh of re- lief; there had been no doubt in their minds that McCausland would have carried out his threat. The other townspeople, on their return under the protection of Federal troops, weren't too pleased to find out that they were now indebted to the banks in town for $20,000. But the in- fluence of those persons who had signed the note was suffi- cient to procure an act of the Maryland State Assembly enabling the town of Hagerstown to issue bonds to cover the "ransom": "The McCausland Debt" was created, and appeared on the Hagerstown tax bills for many years. McCAUSLAND VISITS CHAMBERSBURG As stated earlier, General Early was quite aware of the destruc- tion of the Shenandoah Valley by General Hunter's troops. On the evening of July 28, 1864 a courier handed McCausland a message from General Early. The message directed him to make a retaliatory raid in northern territory, with the purpose of giving the "Yankees" a taste of their own medicine. Cham- bersburg was of no military importance, having no arsenal, fac- tories, or troops, but it was a town of size and wealth. Early ordered McCausland to demand money from the town fathers; if he didn't get it, he was to burn the town. After the war, McCausland maintained that he felt Early had planned to use the money to buy supplies for the relief of the families that had lost their homes and belongings to Hunter's fires. McCausland's cavalry brushed aside pickets of Averell's com- mand on the outskirts of Chambersburg during the night of July 29, and by early morning were on the hills west of town. Repeated attempts to notify General Averell, several miles away near Greencastle, of the presence of the Confederate troops were futile. McCausland and his men rode into town at 6 a.m. and called the town officials to the square; he read General Early's proclamation, which called upon the town to furnish $100,000 in gold or $500,000 in depreciated greenbacks, or Chambersburg would be burned. The townspeople were no doubt aware of McCausland's visit to Hagerstown earlier in the month, and knew that the same General Early had held-up the nearby city of York, Pennsylvania for a ransom of $100,000 and 1,000 pairs of shoes in late June 1863. York had been relieved , „, Act cy, „sr n O 0-6. ,er 4,4 • a /./ ▪ .. -0. • • „„ „, , fir ' 241 041411,- ,J:01, "IIP.114 .14.:■■ r7t. •:"; lJl:/ .Kr • "...te if?:1;* 114 "1(.7 +1."" ## o' , 4110.44...40171. j4":. Nerr1,17"/.■ e 4 0, 1. 1‘. r"."rol";;;;#:#.0 .4";:Ye' /'/'?0,4,1 %.1 51N4F1 frf:C1 44 "1.”17.-c, • 0-1- ,,PE e C./0-U . . • .4f- X.-47 /../. 2r/... ,171.. 4 ,er49- •••- V-s.47 --.-.42:4314--, A- • 74; 0-1,04,4/, ar.e-C 4 (-) // - - n••••••••- e-E-C-04 #27.'e e ei Page 16 Paper Money Whole No. 163 'The McCausland Requisition": It reads as follows: "I. In accordance with the instructions of Lt. Gen'l Early a levy of $20,000 Twenty Thousand Dollars is made upon the inhabitants of this city. The space of 3 hours is allowed for the payment of this sum. "II. A requisition is also made for all Gov't Stores. "III. The following articles will also be furnished from the merchandise now in the hands of citizens or merchants, viz. 1500 suits of clothes, 1500 hats, 1500 pair shoes or boots, 1500 shirts, 1500 pair drawers, 1500 pairs socks. (4) hours allowed for this collection. The Mayor & City Council are held responsible for the execution of this order & in case of non-compliance the usual penalty will be enforced upon the city. (signed) ]no McCausland Brig Gen Conf" of its dilemma when Early received an urgent message from General Lee ordering him to Gettysburg. During the early hours of June 30, the funds of the Cham- bersburg Bank and the assets of the various businesses had been removed from town, in the company of the small Federal force that had been guarding the town. The townspeople felt confident that McCausland would not carry out his threat, al- though they had already witnessed Confederate troops burn part of their town on October 11, 1862. On that date, Major General J.E.B. Stuart's men, after briefly occupying the town, set fire to several warehouses, ammunition stores, and rail- road cars. Receipt signed by General McCausland showing the various clothing the town raised, along with the $20,000 guaranteed by the banks of Hagerstown. The residents of the city would pay 'The McCausland Debt" back to the banks for many years. While McCausland waited, his troops raided shops and homes near the square, and several fires were started. By 10 a.m., all the buildings within a two-block area of the town square were burning. The Confederate troops withdrew from the town at noon. Accounts of the events in Chambersburg that day differ greatly. After the war McCausland clung stubbornly to his claim that he had read General Early's proclamation, and had waited the six hours for the money to be raised. The records of the town do not mention any delay; rather, they re- count residents pleading helplessly with the rebel leader as he ordered the torches to be lit. The fact remains that only two buildings in town were saved—the home of one William Boyd and the Masonic Temple. The Masonic Temple was spared by a southern soldier, who was a Mason; he had posted guards around the temple to prevent it from being damaged. This was only one of many instances during the Civil War where Ma- Paper Money Whole No. 163 Page 17 sonic fraternalism superseded the rules of war. A later account showed that factories, businesses, and 278 houses, were de- stroyed; 173 utility sheds and buildings, and 98 barns and stables had been burned. A committee appointed by the governor of Pennsylvania estimated the loss in real estate and general property to be in excess of $1.6 million. McCausland was condemned after the raid, and even long after the war, for his actions at Chambersburg. General Early felt that McCausland should not be blamed, as he stated in his Memoirs: "For this act I alone am responsible, and the officers engaged in it were simply executing my orders .....McCaus- land returned to his prewar home, in what had become West Virginia, but many of his neighbors had been sympathetic to the Union and they made no secret of their hatred of him and his actions at Chambersburg. He left the United States for many years, living in Canada, Europe and Mexico. During his absence, a warrant was sworn out by a citizen of Chambersburg for his arrest on a charge of arson; no less a personage than Ulysses S. Grant saw to it that the warrant would never be served. McCausland finally returned to West Virginia, and for the rest of his life journalists questioned him about his actions at Chambersburg. He lived in semi-seclusion, and became an ac- complished farmer. He died on January 22, 1927, one of the last of two surviving Confederate generals. The Bank of Hagerstown, Maryland, as it appeared when McCausland's troops occupied the town in July 1864. Remains of the Chambersburg Bank after the fire of July 30, 1864. The town suffered "the usual penalty" for noncompliance with the Confederates' demands. REFERENCES Brigadier General John McCausland The Man Who Never Knew De- feat" Catherine Henderson. Civil War Times Illustrated. June, 1984. Vol. XXIII, No. 4. Historical Times, Inc., Harrisburg, PA, pp. 36-45. Hagerstown Bank at Hagerstown, Maryland, The. Annals of One Hundred Years 1807-1907. The Knickerbocker Press, 1910. Memoirs of Lieutenant General Itibal A. Early, C.S.A. Page 18 Paper Money Whole No. 163 THE BANKER'S WORLD'S FAIR NATIONAL BANK OF ST. LOUIS by DAVE GRANT Even after 90 years, few historical events are as well and fondly recalled in St. Louis as the 1904 Loui- siana Purchase Exposition, more commonly known as the "St. Louis World's Fair!' The Fair, which commemorated the acquisition of "Loui- siana" a hundred years before, was used to show- case St. Louis as a modern, important American city. Both at the time and since, veritable forests have been used to document the Fair, and sou- venirs are actively pursued by St. Louis collectors. T HE Fair was associated with one of the most interestingand short-lived of St. Louis' national banks, charminglynamed The Banker's World's Fair National Bank of St. Louis. In their catalogue, Hickman and Oakes indicate that the bank was in existence for less than a year, issued $50,100 in $50 and $100 red seals, and all of its notes were redeemed by early 1905. Obviously, with the occasional errors/vagaries associated with the Redemption Agency records, every St. Louis national bank note collector continues to hope that there is, some- where, a $50 or $100 waiting to be discovered. The purpose of this article is to provide a little more information about the bank, and to consider whether any notes may have escaped de- struction. The most important person initially associated with the bank was William Thompson, the president of the National Bank of Commerce and treasurer of the Fair. With the possible exception of David R. Francis, the Fair's president, Thompson was probably the person most responsible for the financial success of the Fair. He worked on the Fair's business with the same zeal that had made his bank the most important financial institution in St. Louis from virtually the beginning in 1901 until his death at the end of 1905. Thompson undoubtedly realized the benefits of locating a bank on the Fairgrounds, and on November 20, 1903 sent an invitation to most of the financial institutions in St. Louis to participate in the first organizational meeting on November 23rd. There was a sufficient interest shown that an organization committee was appointed and reported its findings on De- cember 19th. Little time remained since the Fair was to open at the end of April. At the first meeting of the banks' stockholders on February 26, 1904, H.A. Forman, president of the Fourth National Bank of St. Louis, was elected president of the bank. A St. Louis Globe Democrat article two days later indicated that the bank would be "open to a late hour every evening to accom- modate visitors and concessionaires" In addition to providing Fair visitors with cashiering services, all gate receipts and government funds committed to the Fair would pass through the bank. The cashier and assistant cashier were to be the "only active officials of the institution," although it was expected that the president and vice presidents would make daily visits in the afternoon, presumably after the close of the normal business day. On March 9th, Forman transmitted the bank's organization papers to the Comptroller of the Currency. The bank had 17 stockholders who also served as directors. All were associated with important St. Louis banks or trust companies including ten presidents—five had been elected as vice presidents of the Bank. Interestingly, this letter and several other early pieces of correspondence were on the letterhead of the Fourth National Bank. The bank was initially capitalized at $200,000, and, since it was a national bank, was required to purchase a minimum of $50,000 in U.S. bonds. The bank chose to issue currency against these bonds and this point is touched upon in Forman's March 9th letter. The Fourth National Bank has $50,000 U.S. Registered 2% bonds, now in Washington, subject to our orders, and I have agreed to sell these bonds to the Bankers' World's Fair National Bank, to be uti- lized in securing the minimum circulation, which we would like to have in 50's and 100's. In this connection, we would be pleased to have you proceed at once, in order that we may have the currency ready at the earliest possible moment, and let me know what ex- pense is necessary in the direction of the plates, etc., and I will remit that amount. According to a September call report by the Office of the Comptroller of the Currency, the bank paid a $2,500 premium to Fourth for the bonds, and, as required, deposited $2,500—equal to 5% of its circulation—in the Redemption Fund. National bank charter 7179 was granted to the organizers before the end of March, and by April the bank was using its own letterhead. Although the bank's corporate life lasted for less than one year, it used two distinctively different forms of letterhead. On the back of each type is a listing of the 17 directors and a notice that the bank's directors are: also shareholders in the World's Fair Safe Deposit Co. with capital of $100,000. Operating 2500 safe deposit boxes in connection with the bank!' On March 9th, the directors of the bank had elected C.E. Bryan, of the Third National Bank in St. Louis, as cashier. In a related move D.A.P. Cooke, manager of Mercantile Trust Company's Safety Deposit Vaults was elected manager of the World's Fair Safe Deposit Company. Cooke was the primary active official, _ A I --6 7 I 5 - -1 - y • - I - 1 - I1 . - 3 ., 1 I I I K I■Io • ck.,‘, , 44%. .1 • f usco.Reck /Wand j • •;'..i M. zsou .1 Pac, f or, L h_ 0.0.4Vit,,,,0012 ST. Louis1 e El...FE ' " r -■,, I'..16 7 MAL ..1110•• ••*•-•'••••••••• c . ., os.„ , r... L ..ttotei...••,-, ,,,, • , i's., -Be,,.. a Iri'side Inn ,' - ,.:-.,-,:' ,1", ,,.. •,:',.' ' '•lil , a trArt AA , '''• ,, ,... ,-, 141,,Ro,,[012:,': „.,, ,.: r4)`,.-.),, ..., ,-,.., c, 10..%..r .•:,. .... . 'VS•3(•;; 3 ..'")z.b...‘ A , - 'r•- 1 ;•^•■••• , c••c•);' • , 4 .. -6. „.., 4..?---'-i-1.•!,:,' '-A.e.Nc..,',9,. ' ,.. -2,4 c .P• A r3 - . __ , . . -','? .., _,,,.,3,..,,, F 0 II ES T (,,,,.).'1' . r-, 1.,4r::,' ) SOUTH AVENUE ,., ,....„.... - ... ,•-..„ ------ ' . ...‘;-■- .8 1.------ '-`- '- _ WORLDS FAIR, ., ..,,,,,..on, `, ut.,.., „, ,,, o ./ ' "'"'",,z, ' q, • ' '''''': L 0 1.1 I S I A N A PURCHASE EXPOSITION),,,,.. ,71., ,,.■ ..';_p' ,S).7.,.c c.....,.......--a•-,,, e•--k..„1,-?;:',)?, flAY To DECEMBER_, 61 E..I L .-.L ...',I1/.?' t, A or , ‘A E.-,„--• f-P ° a ' /7". -r• 19 04 , 4 , ,...) • o ‘3 .4 T• i!, .i. REFERENCES.:., 0 Live Stock., ,, '..1',,'..J.f,, {.-), .C,`..)`.. , 7 ,,„ti,..2.1.1,•t••a_., ., .., . 0, ,,, C,:, ,.., . "Now:d• L----•:•,'-' , , , -.1.•;;;;7 s,T.:••:,:'7;,.>l,, , ,C..;, ,, .,...,,,•'. ,-;" .;,`.t ., ...'-'■, ;•,?..'' - 1 ; • ••') A•v,',:;D .s•-:,1".....• c )(...).., 'i; 11,7.'': v 'I :• v Y ).: ',A ..A,•''''' asum.. I ••••1•0' , , '1 r .'-, 11 ,, . ..-=‘, T p • . ......, '4.,P...,...t. , • •o. -- C''-j-• :o.'‘.. c;').' 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Le.P1 I 1CAli Or FEU'. - 1.-- n I n L '. ? r■ . 17 4.rraiiesoax.drai roc*. In 1 •011Je.W.,..1 ,•!R:11,411.11,1 , 11i “utor \o'#•* ..40■7 C,\N1t 110 IoN filltSiiint ups ctlit NAT I (P,"114 "'Viotti it)E 246641,.4111.144, je,f, ,,,, 64: /*/, -41;(01.7 1 7 .1 0/4-NIEga MIRtplitegiilialt. - •,''Jetro :111MO€ r t711. 14A7 i '17 )1. +I.2 :t , 1 a ii:, • r. I , ,, .i:Z=Artii-ti., !.: x 131-44:,..101.4C,-#.;-1,161,. 1 .:I Pi* . r112''.0tN.1' t I '414' )' ill ite t",111,k1/4.*::431"N Mena/ ] ..'*I it.z si 1,1' 116 )):1.,10,/ t4.29t1 ini,viwApj omit i_otiorkAiits /1/2,./// 4///, .,“...,:k.Q1)9_111- ev,./4 ./t."."4 1" 1,141120414}1vsseztcm=c# acaeirr, tit vv\ kV) 0 wl / •Nocuswolcuksttilt NATioN----ANtior flANICLIIRT AWIITES Page 20 Paper Money Whole No. 163 and oversaw the rental of boxes to Fair concessionaires and others who had an interest. In the April 1904 World's Fair Bulletin, the bank is described as a modern building 84 by 54 feet, two stories in height, in the center of which is a tower 20 feet square and 44 feet in height. It was to be located on the "model street" at the northeast boundary of the Fair. In actuality, the bank seems to have been located near the main entrance of the Fair, at the northern end of the Plaza of St. Louis and very close to the Fair's primary railway and streetcar stations. Many views of the Fair, including that used on the daily program, omit the entire area occupied by the bank, so it may have been a last minute decision to place it here. Immediately to the north and west was the Pike, whose "popular entertainments" provided a break for fairgoers from the more formal exhibitions. Visitors could see the entire world here, including the Tyrolean Alps, Asia, Constantinople, South Sea Islands, an Irish Village, Old St. Louis, which showed the City as it appeared in 1803, the Galveston Flood, miniature naval battles, and even an Old Testament Creation of the World and an interpretation of the "Hereafter:' Also on exhibit was Jim Key, the educated horse who "reads, writes, spells, figures, counts and changes money!" The Pike was one of the most popular areas of the Fair, and doubtless provided much business for the bank. The Fair opened at the end of April, but the bank did not open until a month later. In his June 1st letter to the Comp- troller, Forman indicates that he was not completely ready to open for business, but was pressured to open by Fair officials. Many of the Fair's thousands of daily visitors needed the bank's services. In addition to exchange services, the bank also per- mitted visitors to open deposit accounts, on which no interest was paid, probably for more convenience and security in managing their money. Concessionaires were certainly impor- tant customers for these accounts as well, since this provided a convenient means to deposit daily receipts and manage cash. The bank's daily income from exchange averaged $62.50, equivalent to a discount of about 0.1%. In addition, interest was earned on the bank's bonds, and more importantly, on the deposits it had with other banks. By early September, midway through the Fair, the Bank's assets stood at a very substantial $771,302 and profits totalled $5,339. Two months later, the bank reported total assets of $873,365 and profits of $11,012. This represented an important level of assets to garner in such a short time, as most of the City's banks had total assets well under $10 million. The Fair closed at the end of November and on December 15th the bank informed the Comptroller of the Currency of its intention to liquidate. In the Comptroller's exam at the end of the year, the loss on the building—which was only a temporary T,%%1• BANKERS WORLD'S FAIR NATIONAL Bi1,1■11, K, ' (:y; OF ST. LOUIS. • AT ,0111.1"11,11t Gouranm. "; CAPITAL. ..00,000.00 .1 n SEE OTHER SIDE. ST. LOUIS, „.„rn wosts.o .. 7,urg ortouwases Paper Money Whole No. 163 Page 21 structure erected on the fairgrounds—was expected to offset any profits made during the bank's operation. It was noted that this was in keeping with the purpose of the bank, to be of service to fairgoers and not as a profitmaking venture. As it happened, the demolition of the building was not as expensive as origi- nally anticipated. C.E. Bryan notes in his final earnings report filed with the Comptroller on February 11, 1905 that the bank made a profit of $907.70, which was divided among the share- holders. So what about the currency? Forman's March 9, 1904 letter mentioned that the Fourth Na- tional Bank sold the necessary bonds to the bank, probably with an understanding to repurchase them at the close of the Fair. C.F. Childs notes in Concerning U.S. Government Securities that bond sellers at this time used a variety of "creative financing" techniques (to use a modern term) to peddle their bonds. Typically, the buyer would only be obliged to put up the premium on the bonds, and the seller (in this case Fourth) would receive the circulation in payment. It is not un- reasonable to assume that this approach was used in this case as well. Two letters from the bank hold the key. C.E. Bryan wrote to the Comptroller on December 21st that: We are sending you today by Express Fifty Thousand dollars in cur- rency of the Banker's World's Fair National Bank for which kindly send to the Fourth National Bank of St. Louis Mo. our bonds which are on deposit with you to secure this circulation. Further, on January 21, 1905 H.A. Forman had written to in- struct the Comptroller that bonds should continue to be held, subject to the order of the Fourth National Bank. That's it then. It seems very likely that the currency— probably uncut and unsigned—was held in the vaults of Fourth National during the Fair, and was returned intact as part of the liquidation process to ensure that both the redemption fund and Fourth National's bonds would be released without a problem. There's only one other small point. Hickman-Oakes notes that a single $100 was returned to the Redemption Agency in late May, 1904, about six weeks after the original currency order. The bank's circulation consisted of $50s and $100s, in the two note plate format no doubt in order to minimize ex- penses. It may well be that the full 334 sheets were sent to the bank in error and, after an initial counting at the bank, that the $100 note was returned simply as a correction. So . . . while St. Louis collectors might wish that someone had "salted" a note from another bank into the $50,000 in ex- change for a souvenir, it's likely that we will be limited to seeing a proof sheet of the notes of this short-lived bank. SOURCES OF INFORMATION/ACKNOWLEDGMENTS Correspondence and Examination files of the Comptroller of the Cur- rency, various dates 1904 to 1905 in the National Archives. St. Louis Globe Democrat, February 28, 1904 and March 10, 1904. World's Fair Bulletin, various issues 1902-1904. Bennitt, M. (1905), History of the Louisiana Purchase Exposition, St. Louis. This includes a photograph of the bank which unfortunately does not reproduce well. Childs, C.F. (1947), Concerning U.S. Government Securities, Chicago. See especially pages 361 to 363. I first heard about this invaluable book and the concept of bond dealers "underwriting" the circulation of National Banks during John Hickman's presentation at the 6th an- nual PCDA Show in St. Louis, October 1991. Hickman, J. and D. Oakes (1990), The Standard Catalog of National Bank Notes, Iola, WI. Thanks are also due to Lynn Vosloh for generously providing the illus- tration of the proof sheet of the $50-$100 notes in the Smithsonian Collection. Call for Nominations for 1993 The following governors' terms expire in 1993: Gene Hessler, Ron- ald Horstman, Robert Raby and Frank Trask. If you have suggestions, please contact the chairman of the nominating committee, Ronald Horstman, Box 2999, Leslie, MO 63056. In addition, candidates may be placed on the ballot in the following manner: (1) A written nominating petition is submitted, which has been signed by ten current SPMC members; (2) An acceptance letter from the person being nominated is sub- mitted with the petition; (3) Any nominating petitions (and accompanying letters) MUST BE RECEIVED BY THE SECRETARY BY FEB. 2Z 1993. Ballots for the election will be included in the March/April 1993 issue of PAPER MONEY. They will be counted at Memphis and an- nounced at the SPMC general meeting held during the International Paper Money Show. Nominees should send a portrait-photo and a brief biography to: the editor, Gene Hessler. Paper Money Whole No. 163Page 22 Pete McCartney, Counterfeiter PART I by THOMAS F. EAGAN D URING the 1800s the newspapers chronicled the exploits of the famous counterfeiters of the day, some of whom were legends in their own time. In the 1870s John Peter McCartney was known as the King of Counterfeiters.' He was born in 1824 in Shelby County, Illinois. When he was seven years old, his family moved to Negoa, Illinois.' There he became acquainted with the John- son family, all of whom were counterfeiters. Pete learned his lessons well. He became a superb engrav- er, a thorough printer and an expert in all aspects of the counterfeiting business.' Pete personally engraved a $20 Unit- ed States Treasury note, a $5 United States Treasury note and two fifty-cent notes. He was said to be the only man who could engrave a plate, make the paper and inks and print the bills himself, and to be the man who demonstrated that fiber paper was valueless as a safeguard against counterfeits.' A Secret Service agent once described Pete's counterfeit of the $5 silver certificate as being "to all appearances just a little bit better in design and workmanship than the genuine govern- ment bill."' He was thought to have been responsible for tens of millions of dollars in counterfeit money and became quite well off, owning five farms and considerable other property.' It was claimed that during the period from 1866 to 1876, he paid $236,000 to various officers of the law in order to gain his freedom.' Pete's wife, Martha, was the stepdaughter of John Trout, a notorious counterfeiter, and was herself working with coun- terfeit plates at the age of thirteen when McCartney first met her.' Her sister was the wife of Ben Boyd, an engraver of such skill that several counterfeiters hatched a scheme to steal Abraham Lincoln's body and hold it as ransom for Boyd's release from prison.' Pete McCartney first leaped to public notoriety in the year 1864. At that time he was part of an extensive combination of counterfeiters, known as the Sleight and Frisby gang, oper- ating throughout the West with headquarters at Cincinnati, Indianapolis and St. Louis. It was believed that they had millions of dollars of counterfeits in circulation, much of which had found its way into the hands of soldiers. '" The events which resulted in the breakup of this gang led to the establishment of the United States Secret Service. Early in 1864 an old counterfeiter was caught by Captain Whitney Frank, a Provost Marshal's detective, in the act of shoving some of the queer in Memphis. In exchange for his freedom, the old man agreed to turn up some of the chief counterfeiters in St. Louis. In April, Captain Frank and several others proceeded to St. Louis where they employed a gentle- man, said to be engaged in the practice of law at Cincinnati, to assist them. This man negotiated the purchase of $25,000 in counterfeit $100 greenbacks at twenty cents on the dollar from three suspects, John Brown, James Vesay and Charles Hathaway. A short while later, he made them an offer for the plates. They agreed to sell him the plates for $35,000, provid- ed that he would also purchase $100,000 of their notes at twenty cents on the dollar. As soon as the exchange was made the detectives sprang their trap, and captured four plates and $175,000 in counterfeit greenbacks." The three counterfeiters were sent to the Old Capital Pris- on in Washington, D.C. where Captain William P. Wood was Superintendent. To save themselves, Brown and Vesay told everything they knew. Based on this information, Wood re- quested authority from the Assistant Secretary of War to work up the case.' From then on the dominoes began to fall. Brown and Vesay turned up Louis Sleight of St. Louis who, in turn, agreed to turn up a $20 legal tender plate made by the Johnson family at Indianapolis and to trap Pete McCart- ney. Sleight bought several thousand dollars of the counter- feit $20s from Pete." When the groundwork was laid, Col. Lafayette C. Baker, Provost Marshal of the War Department and self-styled Chief of the National Detective Police, arrived to take command of, and the credit for, the operation. At St. Louis, the plates for nine different counterfeit bills, nine presses, one of which weighed 3,600 pounds, and dies for making twenty-five cent pieces and $5 and $20 gold pieces were captured." Lafayette C. Baker, Chief National Detective Police (Baker, History of the United States Secret Service, Phila. 1867) moili11111 111111111 1 111111111111 Paper Money Whole No. 163 Page 23 Next the detectives went to Indianapolis where Pete Mc- Cartney had already been arrested by the local police the day before. Col. Baker, Captain Wood and their men went to the house of the Johnson family early the next morning, while the counterfeiters were still in bed, and captured the plates for counterfeit $20 greenbacks and fifty-cent postage curren- cy, together with the press to print them. Pete McCartney and two of the Johnson boys were placed in irons and sent to Washington under military guard.'' The detectives then went to Cincinnati and proceeded up the Licking River to Covington, Kentucky where they arrested eight more counterfeiters and captured the plates for fifty- cent fractional currency, from which upwards of $200,000 in postage notes had been stricken off, the partially finished plates for the $50 United States Treasury note, a large tea chest filled with postage currency and the press on which it had been printed. All together the counterfeiting materials seized by Baker and Wood filled 14 large cases.'' This was said to have been the most important arrest of counterfeiters and capture of counterfeiting implements that had ever taken place in the United States or any other country.'' Pete McCartney, however, had no intention of languishing in prison. Instead, he made the first of many escapes that would distinguish his career as the King of Counterfeiters. While his guards dozed, Pete slipped the irons from his hands and feet and jumped from the window of the train while it was traveling through a rocky, mountainous region near Horseshoe Bend on the Pennsylvania Central Railroad between Altoona and Harrisburg. It was thought that he had been killed, but Pete, too bruised to travel, hid in the area for several days. Six weeks later, he was working a printing press in Southwest Missouri." Pete McCartney circa 1872 (Burnham, Memoirs of the United States Secret Service, Boston 1872) Apparently as a result of his success in breaking up the Sleight and Frisby gang, William P. Wood and his prisoners were placed under the direction of the Solicitor of the Trea- sury on September 12, 1864, at the request of the Secretary of the Treasury and with the consent of the Secretary of War." Thereafter, Wood referred to himself as an acting agent of the United States Treasury Department. 2° For the next ten months, Wood arrested counterfeiters and compiled dossiers on over 220 individuals.' On July 1, 1865 Wood resigned as the Superintendent of the Old Capital Prison and was appointed the Chief of the newly formed United States Secret Service. 22 Bill Wood and Pete McCartney were destined to meet again. For the next twelve years, Pete was continually escaping from the authorities—sometimes because of their dishonesty, sometimes because of their carelessness. Pete was next arrest- ed at East St. Louis, Illinois in January 1866, under the alias Joe Woods. He was spotted at the bridge on Cahokis Creek talking to some men and was followed to near the rolling mill where he was seen delivering money to them. He was arrested as he attempted to board the train on the Ohio and Mississippi Railroad. The officer claimed to have seen him throw away about $10,000 in counterfeit $50 Treasury notes, and $5,000 in good money was found on his person. Pete offered the arresting officer any amount of money that he might ask for to let him go, but the officer refused. The next day, when the officer went across the river to St. Louis to inform the United States authorities of McCartney's arrest, Pete was released from jail and disappeared. It was charged that when the Mayor of East St. Louis had gotten Pete's good money in his possession, he went Pete's bail without letting anyone know." The Mayor claimed that he signed the bail bond because McCartney's attorney had de- posited the amount set by the Judge. He denied that Pete had any more than $100 in counterfeit on him and claimed that the $10,000 could have belonged to the other two men who were with Pete when he was arrested. In any event, Pete remained a free man, but not for long. 21 Seven months later, Pete McCartney and his brother Levi were arrested at Mattoon, Illinois by Deputy U.S. Marshal John F. Rittenhouse. They were found in possession of $50,000 in counterfeit $10, $20, $50 and $100 United States Treasury notes, a lot of counterfeit postage currency, the plates for the notes and $2,500 in good money. A large boxed-up press, dies and tools for manufacturing counterfeit money were found in a warehouse in Mattoon. Pete and his brother were taken to Springfield, Illinois and lodged in jail." The circumstances leading to their arrest were not disclosed, but in July 1866 Ben Boyd was arrested, together with old John Trout, in Decatur, Illinois by an operative of the Secret Service, on a charge of furnishing $1,000 in counterfeit $50 Treasury notes to a man by the name of John Harmon for delivery to a party in Ft. Wayne, Indiana. Harmon was arrest- ed and implicated Boyd and Trout." Shortly thereafter, the Secret Service operative received a letter from Boyd informing him that McCartney's presses were in storage at Mattoon. Pete was arrested before the operative could get there. Boyd was released and a few hours later so was Pete's brother-in- law." William P. Wood, Chief of the Secret Service, visited McCartney in jail and learned where certain lead impressions for printing counterfeit notes were located. He went to Deca- tur with McCartney's wife and several of Pete's friends. From Page 24 Paper Money Whole No. 163 lames Rittenhouse (Grannon Detective Bureau, Grannon's Pocket Gallery of Noted Criminals of the Present Day, Cincinnati, 1890) there, he took Ben Boyd to Champaign, Illinois where they got the plates." While in Springfield, Wood stayed at the same hotel with Mrs. Trout, Mrs. McCartney and Ben Boyd. 3° Pete later complained that he had gathered together the counterfeiting materials at the request of William P. Wood and Operative Sam Felker of Chicago, who had promised to square him with the government if he turned the materials over to them. He claimed that his arrest was an act of bad faith." In any event, between two and three o'clock on the morn- ing of October 17, 1866, Pete and his brother Levi escaped from the jail at Springfield. No locks, bolts or bars were broken, but five doors were found unlocked. A pewter key was found near their cells, but it did not fit any of the locks. Sheriff William P. Grafton and his family lived in the lower part of the jail and should have heard any noise made by the prisoners. It was thought that someone was bribed to aid the escape since, about a week before, Pete's good money had been turned over to his wife who disappeared at the time of the escape. Suspicion fell on the Sheriff and he spent a good deal of money and effort in trying to recapture the prison- ers." A couple of months later, Levi McCartney was recaptured and returned to Springfield where he was tried and sentenced to the penitentiary. Levi accused the Sheriff of aiding the escape. The Sheriff was tried and acquitted." Later, Pete de- nied that Sheriff Grafton had anything to do with the escape. He did admit, however, that he had bought his way out and that he had been furnished keys which he adjusted to the locks. He never said who did it, but he did intimate that it was one of Bill Wood's men from Chicago." After his escape, McCartney went to Missouri and practiced dentistry for awhile. Later, he bought a photograph gallery at Rolla, Missouri and then opened a livery stable there. One day the porter from the hotel brought a stranger to Pete's stable to rent a team. Pete immediately recognized him as a man from Springfield who knew him. Pete told the man that he would bring the team to the hotel in a few minutes, went back into the barn, out the back door and left town. He then traveled around lecturing on the art of detecting counterfeit money." Although Pete denied it, it was said that he carried plenty of counterfeits on his travels to make change for good money and to pass along the way. It was even said that he traveled about distributing religious tracts while disguised as "Brother Billings," leaving plenty of counterfeits behind." Pete maintained that he was trying to get out of the coun- terfeit business. He claimed that in 1868 he had turned some plates and other counterfeiting materials over to Sam Felker of Chicago to have the case against him at Springfield dropped, but nothing was done." Pete McCartney remained a fugitive for four years. It was said that the government spent over $30,000 during that time in trying to recapture him. At the end of October 1870, Pete and his wife, using the alias Carter, moved to Portland, Kentucky and rented a house there, together with William Alexander, alias Lyons. Finding a secluded place, they offered the owner a $50 bonus to let them take possession. Since the house was not very desirable, the man was suspicious. A few days later, he informed the police at Louisville. The Chief, thinking that they were burglars, detailed Detectives Bly and Gallagher to work up the case. The detectives watched Pete and his friend for about a week. On November 4, when they were ready, the detectives raided the house and captured Pete's wife and Bill Alexander. Pete was in St. Louis at the time visiting Frederick Biebush, a notorious counterfeiter living there. The officers seized a full set of engraver's tools, together with a printing press, a rolling machine, a plate for making fifty-cent fractional currency and a full stock of plates and inks for manufacturing greenbacks. 38 It was believed that McCartney and Alexander were part of a gang of 25 or 30 counterfeiters operating in New York, Phil- adelphia, St. Louis, Chicago and other leading cities." On November 11 John Eagan, the Secret Service operative at St. Louis, received a letter from Detective Bly concerning the arrest. On arriving in Louisville the next day, Eagan found that Mrs. McCartney had been discharged by the United States Commissioner, but that she had remained in the city trying to secure the release of Bill Alexander. Eagan interviewed Mrs. McCartney and demanded from her the plates for a $50 bond, $5 and $20 United States Treasury notes and fifty-cent fractional currency. She told Eagan that they had given the plates for the $50 bond and part of the $20 plates to Sam Felker in February 1869 to fix up her husband's case in Springfield. She agreed to try to get the rest of the plates and surrender them to Eagan for her release. Eagan took Mrs. McCartney and her two children to St. Louis where they stayed at his home. 4 ° A day or two later, Detective Eagan went to Decatur, Illi- nois where he was taken about a mile out of town by Mc- Cartney's mother and one of McCartney's friends to meet with Pete. Eagan was unarmed, but Pete kept a revolver in his hand the whole time. Pete agreed to send Eagan three coun- terfeiting implements by express within the next four or five days for the release of his wife. He asked for protection for himself, but Eagan told him that he could not promise any- thing without first consulting the Chief of the Secret Service, Hiram C. Whitley. Pete had wanted a written guarantee against arrest while trying to turn up these implements." On November 19, Pete McCartney and Charles Johnson were arrested in Cincinnati. Officer Haehl had known John- son in Indianapolis as a counterfeiter, a horse thief and a general bad character. He recognized Johnson on the street and watched as he and McCartney went into a saloon and )[i's. )1'k RTIIA A. 1cLARTNEy. Paper Money Whole No. 163 Page 25 came out a short time later with their pockets stuffed. He followed them to the Indianapolis and Cincinnati Railroad depot, and, when they boarded the train for Indianapolis, he and another officer went aboard and arrested them. They found two counterfeit $20 plates, some counterfeit money and a revolver on Johnson. McCartney had about $3,500 in good money, but no counterfeits.' Pete said "Gentlemen, you have spoiled a good thing; I am working for the government. I work under Detective Eagan, and I will give any one of you a ten dollar bill who will go and telegraph to Eagan at St. Louis. I must get away soon, for I have important business in St. Louis." McCartney said that Johnson was innocent and did not know what he was carry- ing. McCartney and Johnson were locked up in the Third Street Station House. They were moved to the rear cells near the stove after Johnson complained of being cold. The officer in charge ordered that the door between the cell room and the office be kept closed and that no one be permitted to enter. During the night, Pete asked several times whether a telegram had been sent to Eagan, saying that, if it had, he would soon be released." Eagen received a telegram from Cincinnati and answered to hold McCartney at all hazards until he should arrive. The next morning, Pete was gone. He had been locked up in one of the old cells. It was later discovered that the lock was in need of repair. The tumblers were so worn that the bolt could easily be slipped back with any sharp instrument. It also seemed that about $2,000 of Pete's good money was miss- ing. 44 Johnson claimed to know little about the whole affair and said that McCartney was acting as a sort of detective, having been promised immunity from past offenses if he would turn up certain evidence which was needed. He claimed that, at the time of their arrest, they were on their way to St. Louis to deliver the seized articles to United States Detective John Eagan. He claimed not to know what he was carrying.' At his trial, Johnson called Eagan as a witness, but Eagan testified that he gave no guarantees to McCartney and that when he first saw Johnson in jail, Johnson did not ask for protection and made no claim to have been acting in his service. It was later that Johnson claimed to be taking the plates to him. The jury returned a verdict of guilty in ten minutes." While John Eagan was having his late night meeting with Pete McCartney, Tom Lonergan, the Secret Service operative at Chicago, was making arrangements at Decatur to have McCartney arrested if he should reappear there. At his re- quest, an operative of Pinkerton's National Detective Agency was detailed to assist. On Thanksgiving day, the City Marshal of Decatur heard that Pete was in town and arrested him at his mother-in-law's house. The next day, one of the arresting officers visited Eagan and Lonergan in St. Louis and said that, if properly rewarded, he could get Pete McCartney. When Eagan and Lonergan agreed to pay a reward of $500, he told him that he had McCartney in custody at Venice, Illinois, a small village about five miles up the river from St. Louis." Upon hearing this, Eagan, Lonergan and William Apple- gate, another operative, crossed the river, went to Venice and found Pete in a hotel there. McCartney proposed that if they would let him go, he would give them full sets of plates for the manufacture of every denomination of money from $50 down to fifty-cents, which he said were worth at least $50,000, and $60,000 in counterfeits ready for distribution, which he claimed were worth at least 50 cents on the dollar. When the detectives refused, he offered them $85,000 for his freedom. McCartney was handcuffed to one of the officers, placed in a carriage and taken to St. Louis where he was kept at the Olive Street Hotel. Two of the detectives sat up all night with him. The next morning, Pete was ironed and taken to Springfield." Shortly after Pete was jailed in Springfield, his brother Levi came to visit him on his way home from Joliet Prison. Levi was so changed that those who knew him could hardly recog- nize him." This insight into prison life did not escape Pete. On December 9, Hiram C. Whitley, Chief of the Secret Service, arrived in Springfield and visited McCartney in jail. Pete agreed to take him to Decatur to recover counterfeit money and plates. McCartney, his wife and two children, accompanied by the Chief and Operative Lonergan, went to Decatur and dug up two cans containing the $60,000 in counterfeit money that Pete had offered to Operatives Eagan and Lonergan and four German silver plates for making $5 counterfeit Treasury notes. Pete then led Operative Applegate to a house about four miles from St. Louis where they recovered a quantity of dies for the manufacture of gold and silver coins. Later, Pete turned over a full set of engraver's tools, an additional $500 in counterfeit money and a lot of gold coins to Applegate. In recognition of his co-operation, and his promise to secure more counterfeit money, Pete was admitted to bail." Pete remarked that even though he had offered to turn up all the plates, presses and counterfeit money that he could get his hands on, Chief Whitley would not promise to do anything for him in return. Pete said that he wanted to quit the business and that he was tired of being hunted, but the Chief would only say that the Government would consider it as proof of his repentance and that it would do him some good. Pete complained that Bill Wood was easy to make terms with, but that he did not keep his promises. Wood took what McCartney offered, let him go and then had him arrested. Whitley would not do that.5' Page 26 Paper Money Whole No. 163 Two months later, Pete returned to Louisville to visit Bill Alexander who was still in jail there and to make arrange- ments for bailing him out. As soon as Pete entered the jail door, one of the Deputy Marshals tapped him on the shoul- der and said "I've got a warrant for your arrest, Mr. McCart- ney." Pete denied that he was McCartney, saying that his name was Carter; but he was locked up anyway. He was quite indignant about the whole affair and felt that he had been wronged. Pete McCartney was not ready to be caged yet. As soon as he could obtain bail, he disappeared, forfeited his bond and took refuge in the Indian Territory where he was sheltered by a gang of desperadoes who aided him in shoving a large amount of counterfeit $5 bills on the Traders' National Bank of Chicago throughout the Territory.' Nothing is known of Pete's life until almost four years later when he was propelled into his most daring series of escapes from the law. On October 2, 1874 Elmer Washburn, the Superintendent of Police at Chicago and former Warden of Joliet Prison, was appointed Chief of the Secret Service to replace Hiram C. Whitley who had resigned under a cloud because of his al- leged involvement in a burglary involving the District of Columbia Board of Public Works. 54 When Washburn arrived in Washington, he found a letter enclosing counterfeit $5, $20 and $50 bills on the Traders' National Bank of Chicago addressed to the Secretary of the Treasury from a man by the name of George Albert Mason. The letter stated that he knew the parties who were dealing in counterfeiting and that he was ready to give them away. Mason mentioned the names of several of the counterfeiters, one of which was Judd. Nei- ther Mason nor Washburn knew that Judd was actually Pete McCartney.' Mason and Washburn met in Philadelphia where Mason said that he could turn up a parcel of counterfeit money which belonged to two men, Richards and Hart, then under arrest in that city. Mason turned over $20,000 in counterfeit money to Washburn and was paid $500. Mason had lured Richards and Hart to Philadelphia and was instrumental in their arrest. He then got all of their good money and recov- ered the counterfeit notes. On his advice, Richards and Hart pleaded guilty and were each sentenced to three years in prison.'` Apparently, Mason was ready to sell out some bigger fish. He had obtained a letter of introduction from Richards to an individual in St. Louis by the name of Christie. Armed with this, he volunteered to go west to track down the counterfeit- ers there. He went to Chicago and from there to Galesburg, Illinois where he claimed to have met with a gang of 20 to 30 counterfeiters, including Judd, who had come there to buy and sell counterfeit money. Pete McCartney owned a farm near Galesburg. It was probably there that they met. Mason led the counterfeiters to believe that he still had the $20,000 in counterfeit money which he had sold to Wash- burn. He claimed that the gang had with them $500,000 in counterfeit $5 bills on the Traders' National Bank of Chicago and almost another $500,000 in counterfeit $20 and $50 United States Treasury notes. James Rittenhouse, a member of the gang and a former member of the Reno gang of Indi- ana train robbers and burglars, promised to bring the boys to Chicago by December 1, and Mason promised to turn over his bag of counterfeit money at the same time.' (To be continued) Endnotes 1 Chicago Times, January 6, 1875 and St. Louis Daily Globe, January 8, 1875. 2 (Springfield) Illinois State Journal, March 2, 1879. 3 Indianapolis Journal, November 25 and November 30, 1876. Pete once described the counterfeiting business as follows: 'The first thing done is preparing a plate. A skillful engraver can cut a greenback or National Bank plate in from five to fourteen months. These plates are valued at from $3,000 to $10,000. The ordinary bank note paper is then procured in bulk, and the printer then sets about his part of the task. He is obliged to go to great expense to procure the proper chemicals, and inks, and must be a skillful workman or he can never get the color right. Four or five impressions are taken, the greenback being the first, then the seal, next the green border, then the black lettering, and finally the signatures. After each impression the paper is cured and put in condition for the next imprint. Each step consumes considerable time and the whole process is tedious and labori- ous. As the work is one of expense and danger, manufacturers print great amounts of bogus money at a time, oftentimes stock- ing up with from $500,000 to $1,000,000 before stopping. This work involves a cash expenditure of from $6,000 to $10,000 . " 'he real fiber, being difficult to obtain, and ... costly, it is imitated very neatly by means of an impression upon a plate cut for that purpose. The imitation fiber paper will deceive a superfi- cial observer if skillfully executed. It can readily be distinguished from the genuine with a pin, needle, or any sharp pointed instru- ment. In the genuine, the silk fiber can be picked out readily, but in the bogus there is none to pick out ... By the use of chemicals every jot of color can be taken from bills of small denomination and the faces of the larger bills substituted. These counterfeits are the most dangerous." Paper Money Whole No. 163 Page 27 "When a large amount of counterfeit money has been printed, cut, and prepared for circulation, the manufacturers, as a rule, sell it in small or large packages to jobbers at from 10 to 25 cents on the dollar. These jobbers have their trusted circle of friends to whom they retail the contraband merchandise at an advance, and they in turn stock the shovers, who pay from 40 to 60 cents on the dollar for their supplies. It is very seldom that manufac- turers or jobbers shove the queer ... It is only when a lucky chance enables the officers to swoop down on them when they have plates or other apparatus in their possession that cases are made ...." Indianapolis Journal, November 30, 1876. 4 St. Louis Daily Globe, January 8, 1875. It was said that Pete once went through the process of remov- ing the printed name of one bank from a bill and substituting the name of another bank for the benefit of N.C. Whitley, Chief of the Secret Service, 1869-1874, just to show him how easy a job it was. Chicago Times, January 1, 1875. 5 (New Orleans) Daily Picayune, March 1, 1888. 6 Chicago Times, January 6, 1875 and Indianapolis Journal, Novem- ber 25 and November 27, 1876. 7 Indianapolis Journal, November 27, 1876. 8 Indianapolis Journal, November 25, 1876 and (Springfield) Illinois State Register, March 22, 1879. 9 Indianapolis Journal, November 25, 1876 and Dye, John Smith, The Government Blue Book, Philadelphia, 1880, pp. 85-86. 10 Cincinnati Commercial, August 6, 1864; St. Louis Democrat, August 8, 1864 and Washington (D.C.) Evening Star, August 8, 1864. 11 St. Louis Democrat, May 6 and August 8, 1864. 12 Information and Description of Criminals, Vol. 1, pp. 34 and 96 and Wood, William P., letter to the Solicitor of the Treasury, dated July 20, 1865, Register of Reports, Vol. 1, pp. 49-50, Record Group 87, Records of the United States Secret Service, National Archives. 13 Information and Description of: Criminals, Vol. 1, pp. 34, 92 and 96, Record Group 87, Records of the United States Secret Service; National Archives. 14 The only prisoner from St. Louis to be committed to the Old Capital Prison was Frederick Biebush who was received on Au- gust 14, 1864. Morning Reports of Prisoners at Old Capital Prison, Washington, Vol. 1, p. 240, Record Group 393, Records of United States Army Continental Commands, 1821-1920, National Ar- chives. The moming reports of the Old Capital Prison included in their total prisoner count prisoners at Carroll Prison. The other prisoners could have been sent there. Morning Reports for Carroll Prison for 1864 do not exist. Letter from DeAnne Wan- ton, Military Reference Branch, Textual Reference Division, Na- tional Archives, dated July 13, 1992. John Brown was released from the Old Capital Prison on parole on August 9, 1864. Morning Reports of Prisoners at Old Capital Prison, Washington, Vol. 1, p. 234, Record Group 393, Records of United States Army Continental Commands, 1821-1920, National Archives. Two other members of the gang were John Frisby of Nauvoo, Illinois and William Homer of St. Louis. St. Louis Democrat, August 5, 1864. Neither was received at the Old Capital Prison during August 1864. Morning Reports of Prisoners at Old Capital Prison, Washington, Vol. 1, pp. 228-258, Record Group 393, Records of United States Army Continental Commands, 1821-1920, National Archives. The captured plates were the plates for a $5 bill on the State Bank of Iowa; the plates for the $3 City Treasury Warrant of St. Louis; the plates for a $2 bill on the Bank of Rutland, Vermont; the plates for a $2 bill on the Pittsfield Bank of New Hampshire; the plates for the $10, new issue, Treasury note, described as, perhaps, some of the most beautiful counterfeit plates executed in America; the plates for a $20 bill on the Bank of New Orleans; the plates for a $20 bill on the State Bank of Tennessee; and the plates for a $10 bill on the Bank of Louisville. St. Louis Democrat, August 5, 1864. 15 Indianapolis Daily Journal, August 4, 1864. None of the lohnsons were received at the Old Capital Prison during August, 1864. Morning Reports of Prisoners at Old Capital Prison, Washington, Vol. I, pp. 228-258, Record Group 393, Records of United States Army Continental Commands, 1821-1920, National Archives. Ap- parently, Ira Johnson procured the release of himself, his father, his brother and his sister by surrendering the $20 plates. See St. Louis Republican, January 24, 1879. The United States twenty-dollar greenback required four differ- ent plates, the first of which worked the whole face of the note except the red star and the figure "two" and the cypher near the center of the bill. The second plate was designed to fill in the large "two" and the cypher near the center of the bill and also some other smaller work. The third plate, and the last necessary to complete the face of the bill, was for the red star on the right side of the bill. The fourth plate was used to finish the work on the back of the bill. After the press work, the bill was put through another process, called the "sweating process," to modify the color of the ink, soften the paper and prepare the bill for market. St. Louis Democrat, August 5, 1864. 16 Cincinnati Daily Enquirer, August 6, 1864; Cincinnati Daily Com- mercial, August 6, 1864 and Washington (D.C.) Evening Star, August 11, 1864. The prisoners were Pete Cune, Joseph Geiser, Benjamin Dean, William Minser, James Ross, Edward Sasser, Timothy Thomas and William Wallace. Morning Reports of Prisoners at Old Capital Prison, Washington, Vol. 1, p. 233, Record Group 393, Records of United States Army Continental Commands, 1821-1920, National Archives. 17 St. Louis Democrat, August 8, 1864 and Cincinnati Enquirer, August 8, 1864. 18 Cincinnati Enquirer, August 8, 1864; St. Louis Democrat, August 8, 1864; Washington (D.C.) Evening Star, August 8, 1864; and (Spring- field) Illinois State Register, December 17, 1870. Louis Dolman of Cincinnati escaped at the same time. St. Louis Democrat, August 30, 1864. 19 Wood, William P., Report of Operations Previous to July, 1865, dated July 20, 1865, Letters Received from the Secret Service Division, 1865-1895, Record Group 206, Records of the Solicitor of the Trea- sury, National Archives. 20 Wood, William P., Report to the Solicitor of the Treasury, dated December 31, 1864, Register of Reports, Vol. 1, p. 3, Record Group 87, Records of the United States Secret Service, National Archives. 21 Thirteen in New York, thirty-three in Pennsylvania, three in Del- aware, one in Maryland, eight in Kentucky, three in Tennessee, forty-one in Ohio, thirty-one in Indiana, two in Michigan, twen- ty-seven in Illinois, fifty-two in Missouri, five in Iowa and two in Kansas. Wood, William P., Report of Operations Previous to July, 1865, dated July 20, 1865, Letters Received from the Secret Service Division, 1865-1895, Record Group 206, Records of the Solicitor of the Treasury, National Archives. 22 Ibid. 23 St. Louis Democrat, January 9, 1866 and St. Louis Republican, Jan- uary 9, 1866. The St. Louis Republican noted that the counterfeit $50 Treasury note appeared to have been printed on the original plates, as none but the best judges of the genuine could detect its falsity or distinguish it from that issued at Washington. St. Louis Republi- can, January 8, 1866. 24 St. Louis Republican, January 11, 1866. 25 (Springfield) Illinois State Journal, August 25 and October 18, 1866. 26 July, 1866 Report of Operative C.H. Ruby, Register of Reports, Vol. 1, p. 407, Record Group 87, Records of the United States Secret Service, National Archives. 27 August, 1866 Report of Operative C.H. Ruby, Register of Reports, Vol. 1, p. 458, Records Group 87, Records of the United States Secret Service, National Archives. Page 28 Paper Money Whole No. 163 28 St. Louis Globe-Democrat, October 26, 1875. 29 September, 1866 Report of William P. Wood, Chief of Division, Register of Reports, Vol. 1, p. 522, Record Group 87, Records of the United States Secret Service, National Archives. 30 August, 1866 Report of William P. Wood, Chief of Division, Register of Reports, Vol. 1, p. 482, Record Group 87, Records of the United States Secret Service, National Archives. 31 (Springfield) Illinois State Register, December 17, 1870 and St. Louis Daily Globe, January 8, 1875. 32 (Springfield) Illinois State Journal, October 18, 1866, Chicago Tri- bune, October 18, 1866 and (Springfield) Illinois State Register, November 28, 1870. 33 (Springfield) Daily Illinois State Register, November 28, 1870 and March 22, 1879 and (Springfield, Illinois) Daily State Journal, November 28, November 30 and December 17, 1870. 34 (Springfield, Illinois) Daily State Journal, November 30 and De- cember 17, 1870, (Springfield) Daily Illinois State Register, Decem- ber 17, 1870 and March 22, 1879. No doubt the man who aided McCartney was Sam Felker, a Chicago detective, who had a reputation as a complete scoun- drel. See for example, Bumham, George P., Memoirs of the United States Secret Service, Boston, 1872, pp. 136-143 and Whitley, H.C., In It, Cambridge, 1894, pp. 305-307. He was even involved in a conspiracy to kill Detective Allan Pinkerton. New York Times, August 5 and August 24, 1869. 35 (Springfield) Daily Illinois State Register, December 17, 1870 and Indianapolis Journal, November 27, 1876. 36 Whitley, H.C., In It, Cambridge, 1894, pp. 270-271. 37 (Springfield) Daily Illinois State Register, December 17, 1870. 38 Louisville Courier Journal, November 5, 1870 and St. Louis Daily Times, November 27, 1870. 39 Louisville Courier Journal, November 13, 1870. 40 November, 1870 report of Operative John Eagan, Register of Reports, Vol. 5., p. 75, Record Group 87, Records of the United States Secret Service, National Archives. 41 Cincinnati Commercial, May 4, 1871. 42 Cincinnati Daily Gazette, November 22 and December 1, 1870. 43 Cincinnati Daily Gazette, December 1, 1870. 44 Cincinnati Daily Gazette, December 1, 1870 and Cincinnati Com- mercial, May 4, 1871. 45 Cincinnati Daily Gazette, November 28, 1870. 46 Cincinnati Commercial, May 4, 1871. 47 November, 1870 report of Operative John Eagan, Register of Reports, Vol. 5, pp. 76-77, and November 1870 report of Operative Thomas Lonergart, Register of Reports, Vol. 5, p. 78, Record Group 87, Records of the United States Secret Service; Bangs, George, undated letter to Allan Pinkerton, George Bangs Letter Book, p. 150, Library of Congress; (Springfield) Daily Illinois State Register, November 28, 1870 and (Springfield, Illinois) Daily State Journal, November 28, 1870. 48 St. Louis Daily Times, November 27, 1870 and St. Louis Missouri Republican, November 27, 1870. 49 (Springfield, Illinois) Daily State Journal, November 30, 1870. 50 December, 1870 report of Operative Thomas Lonergan, Register of Reports, Vol. 5, p. 104; December, 1870 report of Operative William Applegate, Register of Reports, Vol. 5, p. 112, Record Group 87, Records of the United States Secret Service, National Archives and (Springfield) Daily Illinois State Register, December 13 and De- cember 14, 1870. 51 (Springfield) Daily Illinois State Register, December 17, 1870. 52 Louisville Commercial, February 27, 1871. 53 St. Louis Republican, June 2, 1875 and St. Louis Daily Times, June 2, 1875. The plates for these bills were engraved by Ben Boyd. St. Louis Globe-Democrat, October 20, 1875 and St. Louis Missouri Republi- can, May 29, 1882. 54 Bowen, Walter S. and Harry Edward Neal, the United States Secret Service, Philadelphia, Chilton, 1960, pp. 150-151; New York Herald, April 15, 1875 and Closing Argument of the Hon. A.G. Riddle for the Prosecution at the Trial of Hiram C. Whitley, Richard Harrington and Arthur B. Williams for Conspiracy, Washington, Government Printing Office, 1874. 55 New York World, March 26, 1875, New York Herald, March 26, 1875 and New York Times, March 26, 1875. Mason was a genuine rogue. He was a Confederate spy during the Civil War and one of the men who forced their way into Secretary of State Seward's house on the night that President Lincoln was assassinated and tried to murder the Secretary. He was tried and sentenced to life in prison. His sentence was com- muted to deportation by President Johnson. In 1865 he went to Canada where he was arrested fifty-two times and convicted for- ty-eight times, over a period of about eight years, for assault, drunk and disorderly, carrying dangerous weapons, assault with a pistol, assault with a knife, contempt of court, trespass, theft, burglary, perjury, libel and more. New York Times, March 20 and May 9, 1875, New York Herald, March 20, 1875 and Drummond, Andrew L., True Detective Stories, New York, 1908, pp. 174-176. 56 Philadelphia Bulletin, March 6, 1875; New York World, March 26, 1875; New York Times, March 26, 1875; and New York Herald, March 26 and April 15, 1875. 57 Chicago Times, January 6 and January 16, 1875; New York World, March 26, 1875; New York Herald, March 26 and April 15, 1875; and St. Louis Daily Times, May 9, 1875. JACOB OTT (Continued from page 13) Chief lames J. Brooks headed the Secret Service until 1888. He had served under five presidents and nine Secretaries of the Treasury. So popular was he that when he submitted his resignation in 1885 no one would accept it. Even in 1888 his application for retirement was accepted only if he agreed to stay on as a consultant with the title "Operative Special Agent." Brooks did so and served with distinction until 1893. His successor as Chief, John S. Bell, was not so lucky. Counterfeiting had not been completely stamped out and Bell asked for more money to meet the challenge. When funds were denied he became insistent that the Secretary of the Treasury do something. The Secretary finally got tired of Bell's demands and fired him. Brooks was asked to come back but he refused. The office of Chief of the Secret Service was not filled until seven months later. John S. Dye wrote his biography of Jacob Ott in 1879, the same year Ott went to prison. He ended his story with this paragraph written in the flowery style of that era: "Thus, in still another case, the law triumphed through the faithfulness of its officers, and still again another fearful warn- ing is given against the perversion of skill and industry to the service of crime. The offense of Jacob Ott has been great and punishment severe, but just; yet for him there is hope. May his first term in the prison of the State be his last punish- ment, and his skill, honestly used in free labor, yet benefit to some extent the country he has so greatly injured -whose hospitality he has so outrageously and criminally imposed upon.' Sources: Dye, John S. (1880). The Government Blue Book, A Complete History of the Lives of all the Great Counterfeiters, Criminal Engravers and Plate Printers, Philadelphia. Excerpts front the History of the United States Secret Service, 1865-1975. (1978). U.S. Treasury Department, Washington, DC. ActwfilleteAtrTNAITIONAM r. ,WV VI - 21$...- 110E§ifrea Paper Money Whole No. 163 Page 29 "A (Saw) Buck is A (Saw) Buck" by BOB COCH RAN I LLUSTRATED is a First Charter Original Series counterfeit $10 note purportedly issued by The Mechanics National Bank of New York. This particular counterfeit was pro- duced from an engraved plate with portions of the title area left blank, so it could be used to print notes with different titles. Most national banks at the time this plate was engraved (late 1860s) employed titles such as "The (bank name) National Bank of (City Name), so this format would provide the coun- terfeiters many titles to choose from. There are several First Charter Original Series counterfeit notes that were produced for banks that did not exist, but the vast majority of counterfeit notes were imitations of genuine notes from existing banks. In the case of this particular counterfeit, the counterfeiters simply inserted the word "Mechanics" for the bank name, and "New York" in scrip at the left, and in block letters in and below the obligation. But this created an error on the notes, easily no- ticed by people who routinely handled money, and it wasn't very long before this note was listed in the various counterfeit detectors and bank note reporters of the day. The counterfeit reads 'The Mechanics National Bank of New York," but the ac- tual title of the bank, as employed on its genuine notes, was 'The Mechanics National Bank OF THE CITY of New York!' We can only speculate as to why the counterfeiters used an incorrect title—either they didn't bother to check the bank's ac- tual title, or they didn't think the average person would recog- nize the difference. Whatever the reason, one thing is certain—this note saw quite a bit of circulation. As can be seen in the illustration, the note is virtually a "rag," with a multitude of splits from being folded and used. What may be difficult to see in the illustration is that this note has been extensively reinforced—with at least two kinds of tape—and probably at different times in its life. The word "Bad" is written on the face of the note, in pencil, but the words can only be seen upon very close examination. We know that counterfeit notes of this specific bank were placed in circulation in the late 1860s or early 1870s, because they are listed in the publications previously mentioned. Many counterfeit and genuine national bank notes of this period are found in truly wretched condition, because the original Na- tional Bank Acts of the 1860s failed to provide a method for removing worn notes from circulation and replacing them with new notes. The National Bank Redemption Agency was not established until 1874, due in part to the public complaints about the "filthy notes" in circulation. It's anybody's guess where this note traveled as it passed from hand to hand, but we can pick up its story in 1908. On April 18th of that year, the Assistant Cashier of The First National Bank of Boston sent it to the Hadley Falls National Bank of Hadley Falls, Massachusetts, along with the following letter: Gentlemen: We beg to send you herewith counterfeit $10 bill which we have [found] in package of currency which was shipped by you recently together with strap which enclosed the same. We are charging this to your account and trust that it will be agreeable to you. The strap mentioned has the following inscription written on it, in ink: "Natl, 80 tens 20 fives!' On the other side of the strap is written in pencil, "Hadley Falls!' Obviously the Hadley Falls National Bank sent $100 in national currency, com- posed of eight $10 notes and four $5 notes, to The First Na- tional Bank of Boston, its cor- respondent bank. It's also a good bet that the person at The First National Bank of Boston who discovered that the note was counterfeit la- beled it "Bad:' (The letter itself presents an interesting error on the part of the assistant cashier of The First National Bank of Boston. The Hadley Falls National Bank was located in Holyoke, not Hadley Falls. The Hadley Falls National Bank's original correspondent in Boston was the National Bank of Redemption, but it was absorbed by The First National Bank in 1901. We can assume that The First National Bank of Boston maintained the absorbed bank's rela- tionship with The Hadley Falls National Bank. Even so, seven years later The First National Bank of Boston didn't know exactly where The Hadley Falls National Bank of Holyoke was located.) The Hadley Falls National Bank surely returned the note to the person from whom they received it, and we don't know if the note was in turn passed backwards from there. But on the back of the letter from The First National Bank of Boston someone has written: "Carrie, This is the bill you gave me from the old trunk. RCW" It's possible that this counterfeit note was stashed away for many years in an old trunk. We do know that a severe depres- sion began in 1907, and the most likely story is that whoever had this note had a good reason to use it. Whether the owner knew, or suspected, it was a counterfeit, we'll never know. But we can surmise that, in either case, he or she figured "A (saw)buck is a (saw)buck' In Memoriam Hank Bieciuk, SPMC #1 On 26 October 1992 we lost Henry R. "Hank" Bieciuk, SPMC charter-member 1. A resident of Dallas, Texas, Hank was born in New York City on 1 December 1992. He received his B.A. in Psychology from Washington University in St. Louis. For many years Hank dispensed his expertise as salesman, account executive, manager and director in the field of graphic arts. Hank is survived by his children and wife Opal. We wish to extend our condolences as well as our gratitude to them for the con- tribution Hank made as a founder of our society. (The following words were sent by Hank Bieciuk, and were scheduled for publication in this issue as part of "Meet Your Charter Members") In 1960 at the Boston ANA Convention, a group of currency collectors met and decided to try and form an organization for paper money only. It was then decided that this effort would take place in Atlanta the following year. We met again in Atlanta in 1961, at the home of Blaise Dantone, an Atlanta attorney. Our needs and desires were cussed and discussed at length, but no one charged forward to grab the reins and lead the charge. I had come to Atlanta to introduce my book on Texas cur- rency, and suddenly my name was suggested and the nominations ceased! At that point, I was elected presi- dent and editor of a non-existent organization and pub- lication by acclamation. Lo and behold, SPMC was born. Amongst the duties of this new creation was the as- signment of charter membership numbers, the creation of a magazine, the publishing of it, finding contributors of articles, etc. Since I had full-time employment and wrote a weekly column for Coin World, things were a bit hectic. Somehow, the magazine and I both survived for approximately two years when another editor took over. I am quite certain that during this time some toes were stepped upon and some egos were bruised. Such things do happen, and we were no different than anyone else. Be that as it may, many deserved recognition during this period. Who was the "founding father" of the Society of Paper Money Collectors? That is very difficult to answer! All I can say is "that's the way it was!' Page 30 Paper Money Whole No. 163 Noted Passed Austin M.Sheheen The World Paper Show in St. Louis is now history. It was indeed a very fine event. My own observation is that it was probably the first or second best St. Louis Show ever. The attendance, auction, exhibits, and educational forum were outstanding. We are lucky to now have both Memphis and St. Louis shows so well estab- lished. Your Board met for several hours and worked very hard with a complicated agenda. We now have a new Wismer Project Di- rector, Steve Whitfield, and look forward to resuming our pub- lishing activities. Thank you Steve for accepting this position. You have always been a credit to our hobby and we look forward to new goals under your leadership. The Board has proposed a by-law revision regarding the number of board members. Presently we have 15 governors, 4 officers who do not have to come from the Board, and one past president. This is a total of 20 members and sometimes causes a problem in having a quorum. We are proposing a change to 12 members, from which the officers will be selected, plus the past president for a total of 13. It would be accomplished by electing 4 new Board members for the next 3 years instead of 5 and amending the By-Laws to require the officers to be chosen from among those Board members elected by the membership. The call for nominations for the next year will be found in this issue. Please consider running for a seat on the Board if you are so inclined to actively participate. I encourage each of you to make your presence felt. The first 10 years of PAPER MONEY has been indexed. Flow- ever we do need to have an index for the remaining years. If anyone would like to volunteer for this job, just let me know and we can provide the needed assistance. The financial report and minutes of the Board Meeting will be published each year after our meetings. Look for them in a future issue and ask any questions that might be raised. When you read this column, Christmas will already be over, although it is written before Thanksgiving. I hope your year in the hobby and your cherished family holidays have been holy and happy. CONSIDER donating a subscription of PAPER MONEY to your college alma mater, local historical society or library. New Literature The Wonderful World of Paper Money by Neil Shafer. Published by the PCDA, P.O. Box 573, Milwaukee, WI 53201. Copies are available from any PCDA member for $1, by mail $2. This 49-page booklet is the second in a series to be published by the PCDA providing new and potential collectors with basic infor- mation on how to collect various types of paper money. Printed on high quality paper with colored covers, this pro- fusely illustrated booklet describes the many different ways to collect paper money. There is a list of selected definitions. The PCDA is to be praised for creating this series. Paper Money Whole No. 163 Page 31 Proofs Available from Study Group Eagle enlarged by 35%. A group studying the work of Canada's master intaglio portrait engraver, Yves Basil, has been formed. Baril has engraved over 200 postage stamps and banknotes including the U.S. 35-cent Chavez stamp and the new $1 Bahamian Christopher Colum- bus banknote. A listing of Baril's work and his biography is cur- rently being formed. Intaglio engraving was at its height of popularity in the mid-19th century but today there are only a few dozen of these artists working. A similar group, studying the work of portrait engraver Czelaw Slania, was formed several years ago. If you are interested in becoming part of our group send a legal-size SASE. To commemorate the inception of our group three different intaglio proofs by Baril are being offered. 1) Baril's version of the Eagle perched on Rock vignette. The original Great Eagle engraved by Alfred Jones appears on the extremely rare 1861 $50 interest-bearing treasury note and in 1983 the Plate Printers Union used another ver- sion of it, along with six other eagles, on their scarce Balpex spider press proof. Baril engraved his name in the base of the steel die to distinguish it from the original. 2) Baril's Mexican scene was a proposed design, or essai, for the back of the 1969 five peso Mexican banknote. 3) Baril's Cargo on the Levee vignette pictures a barrel, bales and ingots on a dock, with a sailing ship and a steam ship in the background. These intaglio proofs were printed on 8x6" acid-free stock by security printer Borman Engraving of Cincinnati. Each hand-fed proof is taken from Baril's original hand-engraved steel die. There were 2,500 black proofs of each of the three vi- gnettes and 1,000 sets of five color proofs were printed of each vignette. Black proofs are $5 each and sets of five color proofs are $25. Please add $1 to each order for postage. Make checks payable to Yves Baril Study Group, c/o John Denune, 234 E. Broadway, Granville, OH 43023. (614) 587-0276. Meet Your Charter Members Clyde F. Mackewiz I am retired from the field of lithography. My hobbies are col- lecting U.S. currency 1861-1923, and U.S. obsolete notes in pristine or uncirculated condition. I am also a member of the Currency Club of Chester County, a past member of the ANA, and a past member of the Western Pennsylvania Numismatic Association. One of the greatest sins of the research or literary world is the pride of authorship. Here are two of my stories that were sub- mitted to the SPMC: "Bank of North America—Romance of a Bank Note" (1966, Whole Number 20); "Names—and Banks" (1968, Whole Number 28). People—honored ladies and gentlemen—I have been privi- leged to know: A. Bebee and his lovely wife Adeline, Amon Carter, Robert Friedberg, David Bullowa, Charles Wormser, Frank Sprinkle, Louis Werner, Hank Bieciuk and Barbara Mueller (the last two mentioned were very active in the forma- tive years of the Society). Lest I forget, the above mentioned Louis Werner was my mentor and paper money confidant. I started this letter as a thumb-nail sketch, and before it be- comes a palm print I'll put a (-30-) to my writing. Floyd 0. Janney I hold Membership No. 38 of the Society of Paper Money Collectors, have been a Col- lector/Dealer since 1935, am ANA Life Member 415 and am President/Owner of Universal Numismatics Corporation, which has been incorporated since 1966. Over the years I have contributed information to the Red Book, the Blue Book, and Hickman & Oakes' Stan- dard Catalog of National Bank Notes Second Edition. I'm proud to be the owner of the Wau- kesha Red Seal National Bank Note charter #249 which ap- pears on the cover of the above edition. I served as an Instructor and Coordinator with the Wis- consin Vocational & Technical College until retirement in 1979. I have a Ph.D. Degree from Carroll College, Waukesha, Wis- consin and a MA from Columbia University, New York City. I was a long-time resident of Wisconsin, 1917-1983, hence my interest in rare Wisconsin national bank notes, and have relo- cated to Tucson, Arizona. My paper money interest started in Waukesha in 1946, when an old-time collector showed me his collection of national bank notes. I like to look at paper money and enjoy the beautiful works of art. Paper Money Whole No. 163Page 32 friNEW MEMBERS Ronald Horstman P.O. Box 6011 St. Louis, MO 63139 mon oP mar NEW MEMBERSHIP COORDINATOR 8300 Earl H. Bennett, P.O. Box 151, Genesee, ID 83832; C. 8301 Jerry Ellington, 6450 E. Via Arboles, Anaheim, CA 92807-4219; C, Obsolete & CA & NY lg. size Nat. BN. 8302 Barry Rock, 81-15 156 Avenue, Jamaica, NY 11414-2321; C, postage & frac. currency. 8303 James E. Kenney, 436 Colfax Rd., Havertown, PA 19083-1315; C. 8304 Gordon E Raspe, 492 Knickerbocker Rd., Creskill, NJ 07626; C. 8305 Peter Cardone, P.O. Box 7161, Hicksville, NY 11802; C, U.S. currency. 8306 Willard D. Reeves, Jr., 500-H Wiloaks Dr., Snellville, GA 30278; C, Western checks & drafts. 8307 Robert W. Laub, 36452 Rt. 48 PO Box 1945, Southold, NY 11971-0945; C, Frac. currency. 8308 Dan M. Lesicko, 537 Trails End, Edwardsville, IL 62025; C. 8309 Bruce F. Schneider, 87 East Dunedin Rd., Columbus, 01-I 43214; C, Small-size U.S. 8310 Mario A. Fabris, 21661 Brookurst St. #149, Huntington Beach, CA 92646; C, Chicago and Orange County CA NBN. 8311 Joseph Maguire, Jr., 1615 Wilton Dr., Greensboro, NC 27408; C&D, World notes. 8312 Jerry R. Sternberg, 22455 Martella Ave., Boca Raton, FL 33433; C, Lg. & sm. size U.S. currency. 8313 Matt Laub, 120 Logan St., Lewiston, PA 17044; C, Small-size U.S. currency. 8314 Tomasz Sluszkiewicz, P.O. Box 54521, 7398 Edmonds, Bur- naby, B.C., Canada V3N 1A8, C&D, World & P.O.W. notes. 8315 F. Steve Taylor, 871 Graystone Dr., Columbus, GA 31904; C. 8316 Leroy M. Lenhart, P.O. Box 255, Hazleton, PA 18201; C, WWI I notes. 8317 Joseph Shainis, 776 West St., Stroughton, MA 02072. 8318 Brian E. Cohen, 2821 119th St., Toledo, OH 43611; C, Small- size U.S. currency. 8319 Steven Malast, 158 Bay Terrace, Staten Island, NY 10306; C, Lg. & sm. size U.S. currency. 8320 James A. Titus, P.O. Box 92, Ash Flat, AR 72513; C, U.S. & MPC. 8321 Cora Feintuch, 4166 Gann Store Rd., Hixson, TN 37343; C, Nat. BN. 8322 David B. Sims, 1330 St. Paul Ave., St. Paul, MN 55116 2700. 8323 Name withheld by request. 8324 Steve Goldberg, address withheld by request. 8325 Henry Castorino, 110-05 66th Rd., Forest Hills, NY 11375; C, U.S. & CSA notes. 8326 Sanford Weinstock, 8016 Middlebelt, Westland, MI 48185; C&D, U.S. & Canadian notes. 8327 Sidney R. Moore, P.O. Box 57, Cohasset, MN 55721. 8328 Terry Trantow, P.O. Box 287, Bingen, WA 98605; C, Lumber Co. scrip, Oregon obsolete & scrip notes. 8329 Philip R. Byrnes Jr., 6758 W. Calella, Las Vegas, NV 89103. 7881 Edwin Bushey, Jr., 217 Livermore Ave., Staten Island, NY 10314; C, reinstatement. LM122 Austin M. Sheheen Jr.; conversion to life from 2207. LM123 Michael D. Vicari, 18860 Deddar St., Fountain Valley, CA 92708-7223; C&D, U.S. currency. LM124 Samuel G. Kosko, P.O. Box 7596, Arlington, VA 22207; Con- version from 6974. LM125 Carl Cochrane, 12 Pheasant Dr., Asheville, NC 28803; Conver- sion from 3463. Paper Money will accept classified advertising from members only on a basis of 154 per word, with a minimum charge of $3.75. The primary purpose of the ads is to assist members in exchanging, buying, selling, or locating specialized mate- rial and disposing of duplicates. Copy must be non-commercial in nature. Copy must be legibly printed or typed, accompanied by prepayment made payable to the Society of Paper Money Collectors, and reach the Editor, Gene Hessler, P.O. Box 8147, St. Louis, MO 63156 by the first of the month preceding the month of issue (i.e. Dec. 1 for Jan./Feb. issue). Word count: Name and address will count as five words. All other words and abbreviations, figure combinations and initials count as separate. No check copies. 10% discount for four or more insertions of the same copy. Sample ad and word count. WANTED: CONFEDERATE FACSIMILES by Upham for cash or trade for FRN block letters, $1 SC, U.S. obsolete. John W. Member, 000 Last St., New York, N.Y. 10015. (22 words: $2: SC: U.S.: FRN counted as one word each) OHIO NATIONALS WANTED. Send list of any you have. Also want Lowell, Tyler, Ryan, Jordan, O'Neill. Lowell Yoder, 419-865-5115, P.O.B. 444, Holland, OH 43528. (163) FIRST CHARTER NATIONALS WANTED, all denominations from $1 thru $100, also want Michigan nationals thru $100 denomination and large and small-size U.S. type notes, serial number I," 11111111 thru 99999999 and 100000000. Buying and paying collector prices. Jack H. Fisher, 3123, Bronson Blvd., Suite A, Kalamazoo, MI 49008. (163) DISTRICT OF COLUMBIA INFORMATION WANTED: Looking for Washington DC notes, want to record charter, denom., type and serial numbers. If note is for sale please let me know, by including price and condition. Special interest in Ch. Nos. 26, 526, 627, 682, 875, 1893, 2358, 2382, 4195, 4244, 4247, 4522, 7936, 10825. Bob Bolduc, 9350F Snowden River Parkway, Suite 238, Columbia, MD 21045. (163) PRIVATE COLLECTOR OF ERRORS LOOKING FOR U.S. SMALL- SIZE ERRORS. Want to buy any quantity, any condition, and however slight the error. Send your list with your asking price. 1.B. Gandy, 2716, 3A Waterford Way, Midlothian, VA 23112. (163) NEW YORK NATIONALS WANTED FOR PERSONAL COLLECTION: TARRYTOWN 364, MOUNT VERNON 8516, MAMARONECK 5411, Rye, Mount Kisco, Hastings, Croton on Hudson, Pelham, Somers, Har- rison, Ossining, Yonkers, White Plains, Irvington, Peekskill, Bronxville, Ardsley, Crestwood, New Rochelle, Elmsford, Scarsdale, Larchmont, Port Chester, Tuckahoe. Send photocopy; price. Frank Levitan, 4 Crest Avenue, Larchmont, NY 10538, (914) 834-6249. (163) OLD STOCK CERTIFICATES! Catalog plus 3 beautiful certificates $4.95. Also buy! Ken Prag, Box 531PM, Burlingame, Calif. 94011. Phone (415) 566-6400. (182) U.S. MPC REGULAR ISSUE & REPLACEMENTS FOR PERSONAL COLLECTION: to buy, trade or sell, mail your list; FAX or phone (818) 841-8936, Phil De Rosa, 848 N. Avon, Burbank, CA 91505. (164) STOCK CERTIFICATE LIST SASE. Specials: 100 different $31; five lots $130. 20 different railroad stocks, mostly picturing trains, $30; five lots $125. Satisfaction guaranteed. Always buying. Clinton Hollins, Box 112P, Springfield, VA 22150. (172) ST. LOUIS, MO NATIONALS, OBSOLETES AND BANK CHECKS WANTED. Ronald Horstman, Box 6011, St. Louis, MO 63139. (A) WANTED: JERSEY CITY, NJ NATIONALS and other bank-related ma- terial including checks, passbooks, bank histories, bank stocks, and bank postcards. Michael G. Kotora, 37 College Dr., Apt. 3G, Jersey City, NY 07305. (A) * * BUY SELL * * CHECKS * DOCUMENTS SIGNED BY FAMOUS PEOPLE Ray Anthony 9715 Santa Monica Blvd. Beverly Hills, CA 90210 310-859-8097 * FAX 310-859-7938 ANA-LM Send $5.00 for our 50 page plus catalog! Mailed First Class. HOT OFF THE PRESSES- THREE NEW EDITIONS!! The Comprehensive Catalog of U.S. Paper Money by Gene Hessler hardbound (limited supply) $39.95 softbound 29.95 Prisoner of War and Concentration Camp Money by Lance Campbell hardbound (limited supply) 30.00 softbound 25.00 Confederate Currency by Grover Criswell 40.00 also for your consideration: US. Essay Proof and Specimen Notes by Hessler . . . 19.50 An Illustrated History of U.S. Loans by Hessler ... (very limited supply) 50.00 Military Payment Certificates by Schwan (2nd edition) 20.00 Order now. Send your personal check for prompt shipment. Include $3.00 per order (not per book) for shipping. You may also call or FAX your order and we will bill you for the books! BNR Press 132 E. Second St. • Port Clinton, Ohio 43452-1115 (419) 732-NOTE (6683) (9am-10pm Eastern If no answer use (419) 734-6683) FAX (419) 732-6683 (after 10 rings) WANTED ALL STATES ESPECIALLY THE FOLLOWING: TENN-DOYLE & TRACY CITY: AL, AR, CT, GA, SC, NC, MS, MN. LARGE & SMALL TYPE ALSO OBSOLETE AND CONFEDERATE WRITE WITH GRADE & PRICE SEND FOR LARGE PRICE LIST OF NATIONALS SPECIFY STATE SEND WANT LIST DECKER'S COINS & CURRENCY P.O. BOX 2238 UMATILLA, FL 32784 (904) 483-1378 LM-120 ANA 640 FUN LM90 Paper Money Whole No. 163 Page 33 WHITEHALL, NEW YORK MATERIAL WANTED FOR PERSONAL COLLECTION. Looking for any material pertaining to Whitehall, New York including nationals, obsoletes, city scrip, private scrip, advertising notes, bank histories, etc. Jeff Sullivan, P.O.B. 895, Manchester, MO 63011. (163) PAPER MONEY ISSUES WANTED to complete a set: Vol. 2, No. 1 Winter 1973; Vol. 2, No. 2, Spring 1963. Robert R. Moon, P.O. Box 81, Kinderhook, NY 12106. (A) WANTED: Information on 1907 clearinghouse certs. from all states. Send photocopy and price if for sale. T.W. Sheehan, P.O. Box 14, Seattle, WA 98111-0014; (206) 999-3607. (A) DALLAS, TX NATIONAL BANK NOTES WANTED, large or small. Frank Clark, P.O. Box 117060, Carrollton, TX 75011. (A) WANTED: Information on 1907 clearinghouse certificates from all states. Send photocopy and price if for sale. Tom Sheehan, P.O. Box 14, Seattle, WA 98111-0014 (206) 999-3607. (A) WANTED: Schoharie Co., NY; Columbia Co., PA; Ducor and Sonoma, CA nationals for personal collection. George Decker, P.O. Box 2238, Umatilla, FL 32784 (904) 483-1378. (166) WANTED—ENGRAVER SAMPLE SHEETS/ADVERTISING SHEET: Draper, Toppan, Fairman, RWH, RWHE, Ormsby, Continental BNCo, ABNCo, etc. Buying all vignette or engraving sample sheets for my per- sonal collection. Michael 1. Sullivan, P.O. Box 32131, Cincinnati, OH 45232. (164) PAPER MONEY back issues for sale or trade. Various issues 1965 (Whole No. 13) to date available. Write for free list. Ken Barr, P.O. Box 32541, San Jose, CA 95152. (164) WANTED FOR GEORGIA OBSOLETE BOOK PROJECT: Author needs photos, good clear xerox copies or descriptions of Georgia notes not in Haxby or Criswell books. Also Georgia merchants-company change bill issues, even if after the Civil War, any city-county issues, sut- ler military issues, or any uncut sheets. All histories of banks, compa- nies and others have been completed. Material will be acknowledged in book. CARL A. ANDERSON, 710 Peachtree St., NE, Apt 1129, At- lanta, GA 30308, 404-892-3494 after 6 PM or leave message on answering machine. (164) COLLECTOR NEEDS NOTE FROM CHARTER #12903 The Penn- sauken Township National Bank of N. Merchantville (NJ). Also looking for large Camden, NJ nationals for expanding collection. Con- tact John Ciafrani, 2357 Hillcrest Ave., Pennsauken, NJ 08110. LITERATURE WANTED: Buying Counterfeit Detectors, Bank Histo- ries, BEP Vignette & Portrait Presentation Books, Anything on Bank- note Engraving, Important Paper Money References for my personal collection. Michael Sullivan, PO Box 32131, Cincinnati, OH 45232. Realize the best prices for your paper money. „. o with the world's most successful auction company— Auctions by Bowers and Merena, Inc. When you consign your collection or individual important items, you go with a firm with an unequaled record of success! ver the years we have handled some of the most important paper money collections ever to be sold. Along the way our auctions have garnered numerous price records for our consignors. Indeed, many of our sales establish new price records on an ongoing basis. hinking of selling your collection or de- sirable individual notes? Right now we are accepting con- signments for our next several New York City and Los Angeles sales, or our annual Florida United Numismatists sale. Your call to Dr. Richard Bagg, Di- rector of Auctions, at l-800-458-4646 will bring complete information con- cerning how you can realize the best price for your currency, in a trans- action which you, like thousands of others, will find to be profitable and enjoyable. hat we have done for others, we can do for you. Telephone Dr. Richard Bagg today, or use the coupon provided. Either way, it may be the most profitable move you have ever made! Dear Rick Bagg: PM 1/2 -93 Please tell me how I can include my paper money in an upcoming auction. I understand that all information will he kept confidential. NAME ADDRESS CITA' S1,SIE ZIP ; I am thinking about selling. Please contact me. BRIE I' DESCRIPTION OF HOLDINGS DAY TIME TEEEPI IONE NUMBER .0.3; NoteThis "Second Charter Period" $20 National Bank grading Fine to Very Fine sold for a phenomenal $5,500 in one of our recent sales. pns by Bowers and Merena, Inc. Box 1224 • Wolfeboro, NH 03894 V-Toll-free: 1-800-458-4646/ In NH: 1-603-569-5095/ Fax: 1-603-569-5319 Page 34 Paper Money Whole No. 163 Paper Money Whole No. 163 Page 35 I ' I .' \p , '1 i)1 1 1, I, 11 ,, , r e •1 1.1. , • 1 , • [1 , 1 I. „ , , , 1 • • j \ WE ARE ALWAYS BUYING ■ FRACTIONAL CURRENCY ■ ENCASED POSTAGE ■ LARGE SIZE CURRENCY ■ COLONIAL CURRENCY WRITE, CALL OR SHIP: r2/atfrirUii t ,URINIENZ inc. LEN and JEAN GLAZER (718) 268.3221 POST OFFICE BOX 111 FOREST HILLS, N.Y. 11375 Charter Member rt 20th Annual Show FIFTY FIFTY .\,N NSF1ELD NUMISMATIC Soctk-7,), ELKS LODGE Pleasant St., Rt. 32 Willimantic, Conn. Sun., March 7, 1993 9 a.m. - 5 p.m. 50 Dealers Bourse & Exhibit Public invited - Free Admission The "biggest" little coin and paper money show in New England 50 50 Paper Money Whole No. 163Page 3 6 or EARLY AMERICAN NUMISMATICS *619-273-3566 We maintain the LARGEST COLONIAL & CONTINENTAL CURRENCY ACTIVE INVENTORY IN THE WORLD! SEND US YOUR WANT LISTS. FREE PRICE LISTS AVAILABLE. SPECIALIZEVG IN: SERVICES: q Colonial Coins q Portfolio q q Colonial Currency Rare & Choice Type q Development Major Show EARLY AMERICAN NUMISMATICS CI Coins Coverage c/o Dana Linett q Pre-1800 Fiscal Paper q Auction q Encased Postage Stamps Attendance q P.O. Box 2442 q LaJolla, CA 92038 q 619-273-3566 Members: Life ANA, CSNA-EAC, SPMC, FUN, ANACS 40 "This is the Place" / for PAPER MONEY COLLECTORS in the Northeast to get a jump on the Convention Season. Join us again this year for the largest gathering of Paper Money Dealers and Collectors in the New York/New England Area. . . . FEATURING THESE LEADING PAPER MONEY DEALERS... 1. NASCA DIV. R.M. SMYTHE—Stocks, Bonds, Obsolete Paper Money 11. RINATS—Rhode Island Nationals, Other U.S. 2. DENLY'S OF BOSTON—All U.S. and Obsolete 12. 3. MONEY MUNDUS—U.S. Large and Small Size Paper Money 13. 4. CLAUD MURPHY—Confederate and Southern Paper Money 5. NUMISVALU—U.S. Large and Small, Nationals and Obsoletes 14, 6. R.I. BALBATON (Doric Coins & Currency)—Lg. & Sm. U.S. Currency, 15. Coins 16. 7. CHRISTIAN BLOM—U.S. Obsolete Paper Money 17. 8. RaBENCO—Fractional, U.S., Nationals, Etc. 18. 9. KENNETH ELWELL—Rare U.S. Paper Money, Coins 19. 10. ROGER DURAND—Odd Denomination Notes, Obsoletes 20, ROBERT VLACK—Colonial, Obsolete, Foreign Paper & Coins CHINA LAKE COINS & CURRENCY—All Paper Money, U.S. & Foreign Coins COLONY COIN—Collector Coins and Paper Money SILVER CITY COIN—U.S. Obsoletes, Coins & Tokens ZINKUS & REED—MI Foreign Currency MARILEE SAGER—Fiscal Paper, Ephemera, Foreign & U.S. ROBERT PETRUCELLI—Confederate Currency WILLIAM KRACOV—Foreign Currency, U.S. Obsoletes BILL AQUILINO—Paper, Medals, Tokens, Worlds Fair Ephemera . Plus 30 other Paper Money, Coin, Token and Ephemera Dealers . . . RARE WYOMING Reconstructed sheet of Rawlins, WY Uncut pair of Second Charter Period notes. Date Back, Lyons- Roberts. Blue seal. The Rawlins National Bank, Wyoming. Average VF to EF. The sheet is comprised of an uncut pair: $10 note, F-545, S-793 and a $20 note F-555, S-845, and two $10 notes. The face is attractive with minor tattering along the margin. Back shows some light soiling along the folds. Bank president's signature is clear, cashier's is faint. Second Charter notes of Wyoming are scarce and highly sought-after by the advanced collector. Approximately $5,000 in large-size notes from this bank were outstanding as of July 1935. Charter No. 5143. In plexiglas holder. $6,500.00 KEN HALLENBECK COIN GALLERY, INC. 711 N. NEVADA AVE. COLORADO SPRINGS, CO 80903-1007 Ken Hallenbeck is past president of the ANA and an avid collector of odd & curious money, credit cards, Colorado tokens and paper money, stock and bond certificates, and will consider a trade for all or part of the sheet. Iiita6W. (SIM' tilgyjri eiv.mgo vo_on 541.4 L. 541Q ILoofiN ••=f1i.111 t a 1014grAt lirtypit BOOKS ON PAPER MONEY Arkansas Obsolete Notes & Script, Rothert $22 Territorials—US Territorial National Bank Notes, Huntoon $20 Florida, Cassidy (Ind nails & obsolete) $29 Vermont Obsolete Notes & Scrip, Coulter $20 Indiana Obsolete Notes & Scrip, Wolka $22 National Bank Notes, I lickman & Oakes 2nd ed $95 Indian Territory/Oklahoma/Kansas Obsolete Notes & Scrip, Burgett and Whitfield $20 US Obsolete Rank Notes 1782-1866, Haxby 4 vol Early Paper Money of America, 3rd ed., Newman $195 $49 Iowa Obsolete Notes & Scrip, Oakes $20 Depression Scrip of the US 1930s $27 Minnesota Obsolete Notes & Scrip, Rockholt $20 World Paper Money 6th ed., general issues $49 Pennsylvania Obsolete Notes & Scrip, I loober $35 World Paper Money 6th ed., specialized issues $55 North Carolina Obsolete Notes, Pennell rpm. $10 Confederate & Southern States Bonds, Criswell $25 Rhode Island & The Providence Plantations Obsolete Confederate States Paper Money, Slabaugh $9 Notes Scrip, Durand $25 Civil War Sutler Tokens & Cardboard Scrip, Schenkman $27 10% off on five or more books • Non-SPMC members add: $3 for one book, $5 for two books, $7 for three or more books CLASSIC COINS — P.O. Box 95—Allen, MI 49227 U P.O. BOX 84 • NANUET. N.Y 10954 BUYING / USELLING- OBSOLETE CURRENCY, NATIONALS•UNCUT SHEETS, PROOFS, SCRIP BARRY WEXLER, Pres. Member: SPMC, PCDA, ANA, FUN, GENA, ASCC (914) 352-9077 Paper Money Whole No. 163 Page 37 WE NEED TO BUY If you are selling a single note or an entire col- lection, you will be pleased with our fair offer — NO GAMES PLAYED HERE! (Selling too! Write for free catalog.) Subject to our inventory requirements we need the following: ALL WORLD BANK NOTES Also U.S. Large Size Notes U.S. Encased Postage All Military Currency Souvenir Cards U.S. Fractional Currency National Bank Notes Colonial Currency U.S. Small Size Currency Ship With Confidence or Write We pay more for scarce or rare notes. TOM KNEBL, INC. (702) 265-6614 FAX (702) 265-7266 Box 3689 Carson City, NV 89702 BUYING and SELLING PAPER MONEY U.S., All types Thousands of Nationals, Large and Small, Silver Certificates, U.S. Notes, Gold Cer- tificates, Treasury Notes, Federal Reserve Notes, Fractional, Continental, Colonial, Obsoletes, Depression Scrip, Checks, Stocks, etc. Foreign Notes from over 250 Countries Paper Money Books and Supplies Send us your Want List ... or ... Ship your material for a fair offer LOWELL C. HORWEDEL P.O. BOX 2395 WEST LAFAYETTE, IN 47906 SPMC #2907 ANA LM #1503 Million Dollar Buying Spree Currency: Nationals MPC Lg. & Sm. Type Obsolete Stocks • Bonds • Checks • Coins Stamps • Gold • Silver Platinum • Antique Watches Political Items • Postcards Baseball Cards • Masonic Items Hummels • Doultons Nearly Everything Collectible Fractional Foreign 399 S. State Street - Westerville, OH 43081 1-614-882-3937 1-800-848-3966 outside Ohio Life Member C!Q 1:11135 • gif■-1118 EST 1960 "14•1494mTimif•s" COIN SHOP INC SEND FOR OUR COMPLETE PRICE LIST FREE HARRY IS BUYING NATIONALS — LARGE AND SMALL UNCUT SHEETS TYPE NOTES UNUSUAL SERIAL NUMBERS OBSOLETES ERRORS HARRY E. JONES PO Box 30369 Cleveland, Ohio 44130 216.884-0701 Page 38 Paper Money Whole No. 163 .;174 E mot. ;4114 ^(A1r1 4. did• e 1151.11.1L12.13171MISI. 4$404091IMAINVIKAW4 e7431 x74 is Q: CANADIAN BOUGHT AND SOLD • CHARTERED BANKNOTES. • DOMINION OF CANADA. • BANK OF CANADA. • CHEQUES, SCRIP, BONDS & BOOKS. FREE PRICE LIST CHARLES D. MOORE P.O. BOX 1296P LEWISTON, NY 14092-1296 (416) 468-2312 LIFE MEMBER A.N.A. #1995 C.N.A. #143 C.P.M.S. #11 I COLLECT MINNESOTA OBSOLETE CURRENCY and SCRIP Please offer what you have for sale. Charles C. Parrish P.O. Box 481 Rosemount, Minnesota 55068 (612) 423-1039 SPMC 7456 - PCDA - LM ANA Since 1976 /*■&// •,=.1 ;if 4 Serles ABOUT TERRITORIES by Roger H. Durand This book contains over 200 pages of interesting facts about United States territorial expansion and the obsolete bank notes and scrip that were issued during those developing years. It has numerous photographs of rare territorial notes, scrip, checks, and other types of fiscal paper. Well over 1000 notes are recorded in this work. You will receive a complete refund if you are not satisfied for any reason. THIS BOOK IS LIMITED TO JUST 300 NUMBERED COPIES $28.95 pp Order from your favorite dealer or from the author: P.O. Box 186ROGER H. DURAND- Rehoboth, Mn 02769 MYLAR D CURRENCY HOLDERS This month I am pleased to report that all sizes are in stock in large quantities so orders received today go out today. The past four years of selling these holders has been great and many collections I buy now are finely preserved in these. For those who have not converted, an article published this past fall in Currency Dealer Newsletter tells it better than I can. Should you want a copy send a stamped self-addressed #10 business envelope for a free copy. Prices did go up due to a major rise in the cost of the raw material from the suppliers and the fact that the plant workers want things like pay raises etc. but don't let a few cents cost you hun- dreds of dollars. You do know - penny wise and pound foolish. SIZE INCHES 50 100 500 1000 Fractional 43/4x 2 3/4 $15.00 $28.00 $127.00 $218.00 Colonial 5 1 /2x33 /16 16.50 30.50 138.00 255.00 Small Currency 65/8 x 2 7 /8 16.75 32.00 142.00 265.00 Large Currency 7 7/8x 3 1 /2 20.00 36.50 167.00 310.00 Check Size 95/e X 4 1 /4 25.00 46.00 209.00 385.00 Baseball Card Std 23/4x 33 /4 14.50 26.00 119.00 219.00 Baseball Bowman 2 7/8x 4 15.50 28.00 132.00 238.00 Obsolete currency sheet holders 8 3/4x 14, $1.20 each, minimum 10 Pcs. National currency sheet holders 8 1 /2 x 17 1 /2, $2.50 each 17 1 /2" side open, minimum 10 Pcs. SHIPPING IN THE U.S. IS INCLUDED FREE OF CHARGE Please note: all notice to MYLAR R mean uncoated archival quality MYLAR R type D by Dupont Co. or equivalent material by ICI Corp. Melinex type 516. DENLY'S OF BOSTON P.O. Box 1010 617-482-8477 Boston, MA 02205 800-HI-DENLY FAX 617-357-8163 Paper Money Whole No. 163 Page 39 BUYING AND SELLING CSA and Obsolete Notes GSA Bonds, Stocks & Financial Items Extensive Catalog for $2.00, Refundable With Order ANA-LM SCN A PCDA HUGH SHULL P.O. Box 712 / Leesville, SC 29070 / (803) 532-6747 SPMC-LM BRNA FUN 1744.,{aRaTANik Buying and Selling Obsolete and C.S.A. Banknotes (703) 898-0454 THE ARAB WORLD CONTACT OFFICE FOR HISTORICAL PAPER MONEY WANTED FOR GEORGIA OBSOLETE BOOK PROJECT AUTHOR NEEDS PHOTOS, GOOD XEROX COPIES, OR DESCRIPTIONS OF NOTES NOT IN HAXBY OR CRISWELL BOOKS. ALSO, MERCHANTS-COMPANY SCRIP, CITY-COUNTY, SUTLER ISSUES, UNCUT SHEETS. CREDIT WILL BE GIVEN IN BOOK. CARL A. ANDERSON 710 PEACHTREE ST. NE #1129 ATLANTA, GA 30308 (404) 892-3494 * SPECIALIZED IN ARABIC PAPER MONEY TO REQUEST A FREE LIST P.O. BOX 8615 MISSION HILLS, CA 91346-8615 TEL. (310) 288-1160 FAX (818) 898-9398 WE BUY/SELL Page 40 Paper Money Whole No. 163 PAPER MONEY UNITED STATES Large Size Currency • Small Size Currency Fractional Currency • Souvenir Cards Write For List Theodore Kemm 915 West End Avenue q New York, NY 10025 I am interested in any information on the following people who produced or sold items made out of macerated (shredded) money: J. Wolston-Hert- ford, E. Mead Hunt, J.F. Jarvis, George Burfeind, 0. Duke, National Currency Souvenir Co., E.J. Pullman & Son, Charles Snyder, U.S. Souvenir W.H. Abbott, R.F. Buchanan, Mr. Martin, Thomas Elder, Henri Stewart Inc., B. Max Mehl. Contact Bertram Cohen, 169 Marlborough St., Boston, MA 02116 (617) 247-4754. R.M. Smythe & Co. Auctions reach the most important collectors & dealers in U.S. & International Currency, Coins, Stocks & Bonds, Autographs, Ex- onumia & related material. Call today or send for our free color brochure describing the wide range of specialized and personal services we offer. BUYING ALL U.S. PAPER MONEY & STOCKS AND BONDS CALL OR WRI'l For Our Latest Price List Of Stocks & Bonds! Do You Collect Paper Money or Stocks & Bonds? ///r • 43- tiwacizacultP"'.- fUNIMED 617,111106 RICA " 2%43.711:- /12 THIS ONICIIVIES 'MAT ,,,/,,,,,,,,MI,SUPMINnTE T.VA*IntY e * 28580466 ! ******************;;;ATir;**************** *********************************** 26 Broadway Suite 271 New York, NY 10004-1701 EBTAB EP 1A684:10 4./PIP.PV MEMBER TOLL FREE 800-622-1880 NY 212-943-1880 FAX: 212-908-4047 C=ML v.... ...Mos4/41,.x1.11. CSj110xNa BUYING ■ Obsolete, Confederate, Colonial and Federal Currency ■ Antique Stock & Bond Certificates ■ Rare Autographs We will purchase your material outright if you desire. Call or write today. takes Inside: IBNS Congress center of numismatic stage OURIER `THEY GUIDE FOR PAPER MONEY COLLECTORS Vol 20 No 10 • W..' 1992 • Iola *on 4990 Major sale planned for St. Louis bidding Federal Reserve Bank Note tops COMPLETE SPECIAL ISSUE International Bank Note So6ely Congress U.S. paper money collectors! Get more news of your particular collecting interest, every month, in Bank Note Reporter. Bank Note Reporter is the only independently produced publication that blankets the entire paper money spectrum. You'll get all the news you need. And, you'll find it a convenient way to keep current on U.S. and world notes, plus all other related fiscal paper. Mail to: tnk Not€ After urculation wept. , no F State Ct Iraq WI 54990.0001 Enter my Bank Note Reporter subscription as follows: ( ) New ( ) Renewal/Extension (attach your mailing label) ( ) 1/2 year (6 issues) $15.75. Foreign addresses send $20.95. Payable in U.S. funds. ( ) Send me a free sample issue (U.S. addresses only) ( ) Check or money order (to Bank Note Reporter) L Bank Note Reporter is your one-stop paper money information source. Make sure you're in the know, by entering your subscription now. Take advantage of our special half-year offer. Or request a free sample issue (U.S. addresses only). Name Address City State Zip ( ) MasterCard/VISA Credit Card No Expires: Mo. Yr Signature Note: Charge orders will be billed as Krause ABAE45J